Transaction Details
15-Unit Condo
$2,700,000
Portland, OR
15-Unit Condo
- Project Type: 15-Unit Condo
- LTAV: 75%
- Rate: 10%
- Term: 15 Months
- Guaranty: Recourse
Transaction Overview
Max Benjamin Partners, Inc. (“MBP”) successfully arranged a $2.7 million bridge loan refinance for a stabilized 15-unit multifamily property in Portland, Oregon, recently converted into for-sale condominiums. The financing replaced the sponsor’s maturing construction loan with a flexible bridge facility designed to align with the project’s sellout strategy. By structuring a cash-out refinance, MBP provided the sponsor with both the liquidity to return equity and the runway to strategically execute individual unit sales, maximizing returns while maintaining full control of the remaining inventory.
The recourse loan was structured at 75 percent loan-to-as-is value, with a 10 percent interest rate and a 15-month term, providing a balance of flexibility and stability through the sellout period. This transaction highlights MBP’s expertise in structuring transitional bridge financing for developers navigating the shift from construction to disposition. By leveraging strong lender relationships and thoughtful execution, MBP delivered a tailored capital solution that preserved value, enhanced liquidity, and positioned the sponsor for a successful project completion and exit.
MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.
MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.
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