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Multifamily bridge

Multifamily Bridge
Loans.

Short-term, interest-only financing for apartment buildings of 5 units and up that aren't ready for a long-term loan yet. Lease-up, value add, a loan coming due, or a purchase with a hard closing date.

Get a QuoteSee typical terms
Program Snapshot
$1M
Minimum loan
$50M
Maximum loan
75%
Maximum LTV
6 to 36 mo
Term
Apartment buildings of 5 units and up
Lease-up and value add considered
Seller credits and seller financing allowed on purchases
Interest-only and 30 year apartment loans available to refinance
How it works

See how
multifamily bridge works

A long-term apartment loan wants a stabilized building: occupancy around 90%, a steady trailing twelve months, and rents that support the loan. Plenty of good buildings aren't there yet. One is halfway through a unit renovation. Another just changed hands and the new owner is raising rents to market. A third has a bank loan maturing before the numbers catch up.

A multifamily bridge loan carries the building through that gap. Payments are interest only, so the cost of holding stays low while units turn and rents rise. Once the building is stabilized, you can refinance into long-term debt, such as an interest-only apartment loan for the most cash out, or a 30 year fixed if you're holding for the long run.

  • Buy an apartment building that needs work or has below-market rents
  • Pay off a maturing loan before the building qualifies for long-term debt
  • Take cash out to fund a renovation or the next acquisition
Typical terms

What you can typically borrow

These are typical ranges, not a quote. Your terms depend on the building, the equity in it, your credit, and how quickly it needs to close.

Loan Amount
$1,000,000 to $50,000,000
Maximum LTV
75%Including cash out
Loan Term
6 to 36 monthsExtensions available
Payments
Interest onlyNo principal during the term
Units
5 units and upGarden, mid-rise, and scattered site
Occupancy
Lease-up and value add consideredBelow long-term loan minimums
Valuation
Appraisal, BPO, or neitherPhotos and video only on strong loans
Documentation
Tax returns often not required
Additional Collateral
Free and clear propertyCan be pledged to reduce cash to close
Prepayment
Usually noneMinimum interest may apply on some loans
Interest reserve
Often held at closingOn lease-up and value add loans
Exit
Refinance or saleInterest-only and 30 year apartment loans available
Eligible Borrowers
LLC, LP, corporation, or trustNon-recourse available on loans of $5M and up
Available in
35 statesAL, AK, AR, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MS, MO, MT, NE, NH, NM, OH, OK, PA, SC, TN, TX, VA, WA, WV, WI, WY, DC. Very rural areas within these states may be restricted.
Note: These are typical terms. Yours depend on the property, the equity in it, the exit, and how quickly it needs to close. Bridge is for non-owner-occupied property only.
Apartment building not ready for a long-term loan yet?
Send the rent roll, the address, and your plan for the building.
Get a Quote
The exit
Refinancing out? We have programs for that.

Once the building is stabilized, you can refinance the bridge with any lender. Two options we offer are interest-only and 30 year fixed apartment loans.

IO
Interest-only apartment loans available for the most cash out
30 yr
Fixed apartment loans available for long-term holds

See how the refinance works after lease-up.

Multifamily Bridge Questions

Frequently asked

What is a multifamily bridge loan?+
A short-term, interest-only loan on an apartment building that isn't ready for long-term financing yet. It's used for lease-up, value add, a maturing loan, or a purchase on a deadline, then replaced by a long-term apartment loan once the building is stabilized.
What occupancy do I need for a multifamily bridge loan?+
There's no fixed minimum. Bridge is built for buildings below the roughly 90% occupancy most long-term apartment loans want. The plan to get there matters more than where occupancy sits today.
Can I use a bridge loan to pay off a maturing apartment loan?+
Yes. If your loan comes due before the building qualifies for a long-term refinance, a bridge loan pays it off and gives the building time to stabilize.
What happens when the bridge loan ends?+
You pay it off, usually by refinancing into long-term debt or selling the building. If you refinance, interest-only apartment loans often support the most cash out, and a 30 year fixed takes refinancing off the table. Most lease-up loans also include extension options if the building needs more time.
Can the seller help with my down payment or closing costs?+
Yes, on qualifying purchases. The seller can carry up to one third of your down payment, and there's no set limit on seller credits. If you plan to use either one, tell us when you send the deal and we'll build the loan around it.
Do I need an appraisal?+
Not always. Many bridge loans use a BPO instead, and some lower leverage loans need no formal valuation at all, just property photos and a video walkthrough. The value still gets checked either way.
Do you finance 1 to 4 unit properties on this program?+
No. Multifamily bridge loans start at 5 units.
Where does Capituro offer multifamily bridge loans?+
In 35 states: Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. Very rural areas within these states may be restricted. Send the address and we'll confirm whether your property fits.
Other property types

Other bridge types

All bridge loans
Two-story suburban office building with a glass entrance and surface parking
Office

Medical, professional, and multi-tenant office with a loan coming due or space to fill.

Neighborhood strip center with several storefronts and a few empty suites
Retail

Strip centers and standalone retail between tenants or coming off a maturing loan.

Single-story warehouse building with loading docks and an empty truck court
Warehouse

Vacant or partially leased warehouse, flex, and light industrial.

Self storage facility with rows of drive-up units and a climate controlled building
Self storage

Facilities still filling up, or coming off a maturing loan.

Three-story brick mixed use building with storefronts below and apartments above
Mixed use

Buildings with vacant commercial space below or residential still leasing.

Two-story garden-style apartment buildings under a clear sky
Bridge Loans

The Speed Bridge program, every property type and situation.

Get Started

Apartment building between loans? Let's look at the bridge.

Send the address, the rent roll, and your plan for the building. Planning to use seller credits or seller financing? Mention it and we'll build the loan around it.

Step 1 of 5

What are you looking to do?