Seeking Bridge Lender: $3.2M Multifamily Acquisition, 70% LTV, Light Value-Add (Phoenix, AZ)

Hey everyone, Raj Patel here from Patel Mortgage Group. I'm working on placing a compelling multifamily acquisition bridge deal in Phoenix, AZ, and looking for lenders active in that market with a strong appetite for light value-add. The deal is for a 24-unit garden-style apartment complex built in 1985, located in a solid B-class submarket with strong rental growth. The sponsor is acquiring it for $4.55M. They're experienced operators with a successful track record on similar projects in the region, having recently exited a 36-unit property with a 28% IRR. We're seeking a $3.2M bridge loan, targeting 70% LTV on acquisition. The business plan involves light interior renovations (unit turns, appliance upgrades, new flooring) and exterior aesthetic improvements (paint, landscaping) over an 18-month hold period, projecting to push rents by $150-200/unit. Post-renovation, the stabilized value is projected at $5.8M, which would put the loan at approximately 55% LTV on the stabilized value. Key considerations: The sponsor is looking for a flexible prepayment structure and potentially a small capex reserve or future funding facility for the renovations, though they have strong liquidity. They're aiming for a 24-month term with extension options. We're targeting an interest rate in the mid-to-high 9s, depending on structure. Looking for lenders who can move quickly and appreciate a well-underwritten, sponsor-driven deal in a growth market. Please DM me if this aligns with your current lending parameters. Happy to share the full OM and pro forma.