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Bridge Launches Ground-Up Construction Lending Program

Written by Bridge | Sep 10, 2024 7:16:32 PM

The hospitality industry is evolving, and Bridge is stepping up to meet its needs with a new financing solution. Bridge, a leading digital platform connecting middle-market developers with a diverse network of debt capital providers, has announced the launch of its Ground-Up Construction Lending Program. This in-house lending program, designed specifically for franchised hotels, provides loans of up to $50 million, offering much-needed support for construction and rehabilitation projects.

Addressing a Critical Market Gap
As the hospitality sector continues to grow, many segments face financial constraints and limited access to development capital, particularly in underserved and high-growth markets. Bridge’s new program is strategically designed to address these challenges, offering senior debt for ground-up and rehab projects. By focusing on franchised hotels, this program aims to support experienced sponsors in both primary and secondary markets, where the demand for quality hotel accommodations often exceeds supply.

“Our new Ground-Up Construction Lending Program represents a significant step forward in our commitment to supporting the hotel industry,” said Shivan Perera, Managing Director for Bridge. “We recognize that many segments within the hospitality sector are facing financial constraints and a shortage of development capital. By focusing on franchised hotel projects, we aim to bridge this gap and provide experienced sponsors with sound projects the capital they need to meet demand and succeed in both competitive and underserved markets.”

Key Features of the Ground-Up Construction Lending Program
Bridge’s new lending program offers several key features tailored to the unique needs of the hospitality sector:

Loan Amounts Up to $50 Million: Provides substantial financial support for mid-scale hotel development projects with competitive rates, empowering sponsors to take on significant builds and renovations.

Enhanced Developer Experience: Bridge’s proprietary technology leverages AI for screening and underwriting, revolutionizing the speed to close and enhancing the overall developer experience.

Focus on Franchised Hotels: Prioritizing properties associated with established brands to ensure marketability and project success.

Broad Market Availability: Available in primary and secondary markets, the program caters to a wide range of locations, from major metropolitan areas to high-potential secondary markets.

Support for Experienced Sponsors: Designed for sponsors with a proven track record in hotel development and operations, ensuring that projects are led by capable hands.

A Solution for Market Gaps: Specifically targets markets that are currently undersupplied and underfinanced, creating new opportunities for growth in both established and emerging areas.

Bridge’s Commitment to the Hospitality Industry
Bridge’s deep industry expertise and commitment to innovation make it an ideal partner for sponsors navigating the complexities of hotel construction lending. By addressing the critical financing gaps in the market, Bridge is not only helping developers but also contributing to the overall growth of the hospitality sector.

Whether you are a seasoned sponsor looking to develop new properties or seeking to rehabilitate existing franchised hotels, Bridge’s Ground-Up Construction Lending Program offers the tailored financial solutions you need to succeed.

Disclosure: This blog post may contain forward-looking statements based on current expectations and assumptions. Actual results may differ due to market conditions, regulatory changes, and other factors. Loan approval is subject to Bridge's underwriting criteria, and not all applicants will qualify. Terms and conditions are subject to change, and this information does not constitute an offer to lend. Bridge complies with all applicable state and federal lending regulations.