$5,685,000 Bridge Loan Closing in Salt Lake City, Utah

Hotel to MF Conversion

$5,685,000 Bridge Loan Closing in Salt Lake City, Utah

Nelson Funding is pleased to announce the recent closing of a $5,685,000 commercial bridge loan in Salt Lake City, Utah. The Nelson Funding team was contacted when our client needed to close and get approval on a time sensitive traction. The Nelson Funding team was able to arrange a fast commercial bridge loan that was ready to fund in just two days! The loan represented a number of challenges including a difficult asset class, a land lease, and a very short fuse to fund/show loan approval to the seller. The bridge loan represented a 55.5% LTV at 12% interest. The Nelson Funding team are experts at arranging quick close bridge loans in Utah and throughout the Mountain West.

 

Nelson Funding is a nationwide commercial loan broker and correspondent lender helping borrowers get the best possible financing for their respective projects. Nelson Funding has provided financing for over 80 projects and placed more than $600mm of capital. Nelson Funding has the experience to get almost any project funded: from new construction to cash-out refinances, land development, and more.

 

Next time you need a competitive commercial bridge loan in the Salt Lake City commercial real estate market, call the experienced team at Nelson Funding. Our team will happily review your commercial real estate project and quickly identify the best capital solutions for your development. If you have a scenario you would like us to review, send us an email at loans@nelsonfunding.com or visit our webpage nelsonfunding.com.

 

Nelson Funding remains committed to helping our clients secure the best financing for their Salt Lake City commercial real estate projects despite a rising interest rate environment and tightening lending standards. With Nelson Funding’s capital market relationships and highly experienced team we are still placing high leverage debt for all deal types including land development, single family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis and more.

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