{"id":105,"date":"2026-06-03T13:57:26","date_gmt":"2026-06-03T13:57:26","guid":{"rendered":"https:\/\/kennedymtg.com\/?page_id=105"},"modified":"2026-06-03T21:18:35","modified_gmt":"2026-06-03T21:18:35","slug":"bridge-value-add","status":"publish","type":"page","link":"https:\/\/kennedymtg.com\/staging\/8888\/multifamily\/bridge-value-add\/","title":{"rendered":"Bridge &#038; Value-Add Financing"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>One-line summary: Short-term, interest-only financing for acquisition, lease-up, repositioning, or pre-stabilization holds, bridging the gap until the property qualifies for permanent agency or bank financing.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Best for<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investors acquiring properties that need work before they qualify for permanent financing: lease-up, rehab, repositioning, partially vacant assets, or distressed acquisitions. Also used to close fast on opportunistic deals when permanent financing would take too long, then refinance once stabilized.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key terms (typical)<\/h3>\n\n\n\n<figure class=\"wp-block-table table-label-value\"><table><thead><tr><th>Attribute<\/th><th>Typical Range<\/th><\/tr><\/thead><tbody><tr><td>Eligible properties<\/td><td>5+ unit multifamily (various conditions)<\/td><\/tr><tr><td>Loan amount<\/td><td>$1 million to $50 million+<\/td><\/tr><tr><td>Loan-to-cost (LTC)<\/td><td>Up to 80\u201385% on acquisition + rehab<\/td><\/tr><tr><td>Loan-to-value (LTV)<\/td><td>Up to 75\u201380% of stabilized value<\/td><\/tr><tr><td>Term<\/td><td>12 to 36 months, often with extension options<\/td><\/tr><tr><td>Rate type<\/td><td>Floating, typically tied to SOFR plus a spread<\/td><\/tr><tr><td>Interest payment<\/td><td>Interest-only during the term<\/td><\/tr><tr><td>Recourse<\/td><td>Varies, non-recourse common; some lenders require recourse on lease-up<\/td><\/tr><tr><td>Prepayment<\/td><td>Typically open after a short lockout (often 6\u201312 months)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Why borrowers choose this program<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Speed.<\/strong> Bridge lenders can close in 30 days or less when needed, vs. 60\u201390+ days for agency.<\/li>\n<li><strong>Property condition flexibility.<\/strong> Bridge programs finance deals that are partially vacant, mid-rehab, or otherwise pre-stabilization.<\/li>\n<li><strong>Interest-only payments.<\/strong> Preserves cash flow during lease-up or value-add execution when net operating income is below stabilized levels.<\/li>\n<li><strong>Built for a takeout.<\/strong> Most bridge loans are structured assuming you&#8217;ll refinance into agency or bank permanent financing within 12\u201336 months. We structure the entry and exit together.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Considerations<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Higher cost.<\/strong> Bridge rates are typically 200\u2013500 basis points above agency permanent financing, sometimes more depending on the deal. The cost is justified by the optionality and speed, but it&#8217;s real money.<\/li>\n<li><strong>Floating-rate exposure.<\/strong> Most bridge debt floats over SOFR. Rate caps are typically required and add to the closing cost.<\/li>\n<li><strong>Execution risk.<\/strong> The exit plan matters more than the entry. If the property doesn&#8217;t stabilize on schedule, an extension or a second bridge may be needed.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>One-line summary: Short-term, interest-only financing for acquisition, lease-up, repositioning, or pre-stabilization holds, bridging the gap until the property qualifies for permanent agency or bank financing. Best for Investors acquiring properties [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":487,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"page-templates\/program.php","meta":{"nf_dc_page":"","footnotes":""},"class_list":["post-105","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bridge &amp; Value-Add Financing - Kennedy Mortgage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kennedymtg.com\/staging\/8888\/multifamily\/bridge-value-add\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridge &amp; Value-Add Financing - Kennedy Mortgage\" \/>\n<meta property=\"og:description\" content=\"One-line summary: Short-term, interest-only financing for acquisition, lease-up, repositioning, or pre-stabilization holds, bridging the gap until the property qualifies for permanent agency or bank financing. 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