BridgeInvest Launches Construction Lending Program
Fast, Alternative Lending for Construction Has Arrived
We are proud to announce a dedicated construction lending program designed to meet your financing needs and help capture timely market opportunities. BridgeInvest utilizes a fully-discretionary fund to provide bespoke, non-recourse financing for construction projects. We offer quick approvals and flexible terms. See two recent examples below and learn how BridgeInvest can leverage our fully integrated lending platform for your next construction project.
Doubletree Hotel in Doral. BridgeInvest financed a $16 million construction loan for a Doubletree by Hilton hotel that will serve the growing demand for hospitality in Doral—one of Miami’s fastest-growing municipalities. The construction was capitalized with equity contributions from EB-5 investors, with the complex ownership making it difficult for banks to underwrite. BridgeInvest was able to structure and close the loan on an expedited basis, providing the phased-funding needed to complete the project in 18 months. The 150-room hotel is already 60% complete and on schedule to launch in Q2 2018.
Design District: Boutique Luxury Retail. BridgeInvest closed a $4.65 million acquisition and construction loan for the development of a boutique retail building in Miami’s Design District, a premier shopping and dining destination in Miami. The property was placed under contract in 2015 at a price far below current market value, meaning that the borrower would need to contribute additional equity in order to comply with bank regulations. BridgeInvest utilized its deep local knowledge of the submarket to underwrite the inherent value of the asset which is now successfully pre-leased.