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value add multifamily investments

30+ Years

of commercial real estate experience

$1 Billion+

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Healthcare Bridge Loans

Advantages: Fast bridge loan that closes in 6 to 8 weeks so investors have funds for their project while waiting for their HUD loans to close.“One-Stop Shop” if you’re looking for FHA or Agency permanent debt but need short-term bridge financing

Fast closing (purchase or refinance)
No exit fee if permanent financing originated via Eagle -Greystone
Savings on fees and closing expenses
Loan Purpose: for properties that are either stabilized or need minor to moderate renovation or other value-add strategyOur bridge loan program can be used to finance stabilized properties while we underwrites permanent financing or fund moderate rehab/re-tenanting where the borrower needs to completes a value add strategy before securing permanent financing through FHA, Fannie Mae and Freddie Mac.

Eligible Properties:
Independent living, assisted living and skilled nursing properties
Loan Amount:
$5 million to $35 million+
Loan Terms:
up to 36 months including extensions
Floating rate interest (spread 1.50% over LIBOR floor 500 bps for assisted living/independent living and 625 bps for skilled nursing facilities depending on quality and risk)
Interest only (some amortization may be required after first two years)
Loan Commitment Fees:
Loan to Value:
Up to 80%
Equity Requirements:
15.0% to 20.0% cash equity in the property
Debt Coverage Ratio:
Minimum 1.10x at closing, Interest reserve established if less than 1.25x. During the bridge loan term, a minimum 1.40x must be achieved. Particular attention will be paid to the anticipated DCR on the take-out loan. In general (and particularly for rehab or repositioning loans), underwriting must demonstrate loan can be refinanced upon stabilization.
Prepayment/Exit Fees:
possible prepayment after one year subject to exit fee (waived if Eagle-Greystone provide permanent financing).
Application Fees/Deposits:
$15,000 per property non-refundable processing fee (depends on loan size and complexity) plus approximately $20,000 per property escrow deposit to cover cost of appraisal, structural/engineering, environmental reports, travel and due diligence.
Taxes, insurance and replacement reserves
Third Party Reports:
MAI Appraisal (expanded or separate market study may be required for properties with value-add); Environment Phase I and Engineering/Structural Report prepared by approved professionals
Non-recourse with standard carve-outs for environmental, bankruptcy, fraud and misapplication of funds, etc.; Partial recourse and/or operating deficit and completion guaranty may be required for properties undergoing more significant renovation.

Take the guess work out of repositioning distressed apartments and partner with us and secure your future NOW