Commercial Bridge Loans
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Commercial Bridge Loan Exit Strategies
Learn how refinance, sale, lease-up and stabilization exits are evaluated in commercial bridge loan underwriting.
The exit is part of the credit decision
A bridge lender is making a temporary loan, so the expected repayment path matters from the beginning. An exit should be more specific than simply saying “refinance later.”
Refinance exit
A refinance exit typically depends on future property value, NOI, DSCR, occupancy, interest rates and lender eligibility. The stabilized loan must be able to repay the bridge balance under reasonable assumptions.
Sale exit
A sale strategy should consider realistic marketing time, transaction costs and the possibility that the market does not support the sponsor’s target price on schedule.
Business-plan milestones
Lease-up, renovations, permits, tenant improvements, collections or other milestones should be connected to the expected exit. The more dependencies a plan has, the more execution risk a lender may see.
Important: Lending criteria, definitions and calculations can vary by lender and transaction. This page is educational and is not a commitment to lend or a statement that a specific transaction will qualify.
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Value-Add & Renovation Financing
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