In one sentence
Short-term financing that carries a property through a transition, repaid by a sale or permanent refinancing.
The longer version
Bridge loans fund acquisition, repositioning, or lease-up over one to three years, priced for the higher risk and floating over a benchmark. They bridge to a permanent loan or a sale.
Bridge closings move fast and lean on extension options and interest reserves, and their exit assumptions get real scrutiny because the whole thesis depends on the takeout.
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