Dwayne Paynebroker
Apr 17, 2026 at 1:00 PM
Seeking Bridge Lender: $1.8M Industrial Acquisition, 68% LTV, Environmental Report Needed
Hey everyone, Dwayne Payne here from Payne Capital Partners. Hope you're all having a solid week. I've got a deal I'm trying to place and would appreciate any lender suggestions for a bridge loan.
We're looking for $1.8M for the acquisition of a 25,000 sq ft industrial property in a tertiary market (think outside of a major metro, but still decent population growth). The purchase price is $2.65M, so we're targeting around a 68% LTV. The borrower is a repeat client of ours, strong sponsor with a good track record in light industrial and flex space. They're acquiring this property to re-tenant it after the current tenant vacates in 6 months, then stabilize and refi into perm debt.
Here's the rub: there's an existing Phase I Environmental Site Assessment that flagged some minor concerns, nothing major, but the lender will likely want a Phase II. The borrower is prepared for this, but it means we need a lender who's comfortable with that process and can move quickly once the Phase II is completed and cleared. We're looking for a 12-18 month term, interest-only, with some flexibility on extension options. Ideally, a lender who can fund within 30-45 days of a clean Phase II.
I just closed a similar industrial deal last month, but that one was squeaky clean environmentally. This one has a bit more hair. Any recommendations for lenders who are strong in industrial bridge, especially with environmental nuances? Appreciate the insights!