InvestmentsMortgageReal Estate

CoreVest steps up its bridge lending game

Company will now offer bridge lending to multifamily properties up to 150 units

CoreVest expanded its bridge lending platform to include multifamily properties up to 150 units.

Citing customer demand for bridge lending, which likely comes from a lack of investor interest in new multifamily construction, CoreVest will offer loans in the $250,000 to $25+ million range.

"This is a logical extension of our business," CoreVest Chief Operating Officer Ryan McBride said in a statement. 

"We have financed multifamily properties for years. Expanding the unit count for these properties will enable us to better serve investors that require flexible bridge financing options for larger projects," he added.

According to the CoreVest release, their bridge loans can be used for purchasing properties, refinancing, and rehab funding. Under the new expansion, CoreVest says it has delivered financing for over 700 units across 18 properties in Forida and one 18-unit property in Newark.

"We provide loan products to investors across a range of asset types and timeframes.  Whether it's bridge financing for large multifamily projects, long-term loans for single family rentals, or Freddie Mac loans, we offer borrowers attractive financing solutions," CoreVest Chief Executive Officer Beth O'Brien said in a statement.  "Regardless of the product, we pride ourselves on being flexible, timely and the lender that our customers can grow with."

 

 

Most Popular Articles

Here’s how to use Fleq to buy a home without a mortgage

You asked, and we answered. A Pittsburgh startup company is introducing a new way to look at homeownership, and it’s creating quite a stir.

Jan 20, 2020 By

Latest Articles

CFPB now taking friendlier approach to financial abuses

For years, the financial services industry has been asking the Consumer Financial Protection Bureau to address what the industry views as ambiguity surrounding the bureau’s regulation of “abusive” practices. And now they’re getting their way.

Jan 24, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please