Seeking Bridge Lender: $5.2M Multifamily Acquisition, 75% LTC, Heavy Value-Add (Detroit, MI)

Morning everyone, Robert Huang here from Pacific Bridge Capital. I'm actively looking to place a compelling multifamily acquisition bridge deal and wanted to tap into the collective expertise here. We have a client under contract on a 96-unit multifamily property in Detroit, MI, for $6.5M. The property is currently 60% occupied and requires significant capital expenditure to stabilize. Our client has a proven track record with similar heavy value-add plays in the Detroit market, successfully executing on two prior projects (one 120-unit, one 75-unit) that saw occupancy jump from ~55% to 90%+ within 18 months. They're seeking $5.2M in bridge financing, which represents 75% of the total project cost (acquisition + $1.5M in renovation budget). The renovation plan is comprehensive, including unit interior upgrades, common area improvements, and exterior deferred maintenance. Our underwriting projects a stabilized value north of $10M within 24-30 months, with a projected 1.25x debt yield on stabilized NOI. We're looking for a lender comfortable with higher leverage on the LTC (up to 75%) for a heavy value-add play, ideally with experience in the Detroit market. Term needs to be 24-36 months, with an interest reserve for the first 12-18 months. Borrower is strong, with significant liquidity and net worth. If this aligns with your program, please shoot me a DM or connect directly. Happy to share the full underwriting package and client background.