Bridge, a leading digital platform connecting middle-market developers with a diverse network of debt capital providers, has launched its Ground-Up Construction Lending Program. This in-house lending initiative is a direct response to the growing need for financing within the hospitality sector, particularly for construction and renovation projects.
The program provides senior debt financing of up to $50 million to experienced sponsors in primary and secondary markets, specifically focusing on projects involving franchised hotels. Bridge recognizes that many segments within the hospitality industry face financial constraints and limited access to development capital. This new initiative aims to bridge this gap, offering tailored lending solutions to support projects that cater to the increasing demand for quality hotel accommodations.
The Ground-Up Construction Lending Program is particularly relevant in high-growth areas where demand for hotel rooms outpaces supply. It empowers sponsors to seize new opportunities in both established and emerging markets, enabling them to develop hotels that meet the evolving needs of travelers.
Shivan Perera, Managing Director for Bridge, highlights the program’s significance: “Our new Ground-Up Construction Lending Program represents a significant step forward in our commitment to supporting the hotel industry. 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 include:
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Flexible Loan Terms:
Tailored to the specific needs of each project, offering a range of loan terms to accommodate diverse development timelines and financial requirements.*
Competitive Interest Rates:
Designed to be competitive within the market, ensuring sponsors can secure financing at attractive rates.*
Streamlined Approval Process:
Streamlining the application and approval process, making it efficient and responsive to the needs of busy developers.With its deep industry expertise and tailored lending solutions, Bridge stands out as a strategic partner for sponsors navigating the complexities of hotel construction lending. This new program underlines Bridge’s commitment to fostering growth and innovation within the hospitality sector, particularly in high-potential markets.
