Deal Summary
INSIGNIA Financial Services provided $2,200,000 of bridge-to-permanent financing for an owner-occupied private school facility in Buffalo Grove, Illinois. The loan represents approximately 42% of the as-is appraised value, was funded with proprietary capital and was structured as interest-only with two extension options.
| Item | Detail |
|---|---|
| Transaction type | Owner-user financing, bridge to permanent |
| Property | Private school facility, 49,592 square feet on 3.74 acres, built 1972 and gut-renovated, 18 classrooms plus gymnasium and auditorium |
| Location | Buffalo Grove, Illinois 60089 |
| Total financing | $2,200,000 |
| Loan to as-is value | 41.5% |
| Loan structure | Interest-only bridge loan |
| Term | 12 months, with two 12-month extension options |
| Capital source | Proprietary capital |
The Transaction
The owner-operator of a private school in Buffalo Grove had substantially completed a gut renovation of its 18-classroom facility and needed short-term capital against the improved, 100% owner-occupied property while positioning for permanent financing. INSIGNIA structured a $2,200,000 interest-only bridge loan with a 12-month initial term and two 12-month extension options, which gives the borrower up to 36 months in aggregate to complete its transition to permanent debt.
INSIGNIA
Special-use and owner-occupied commercial real estate is a core part of our practice, and bridge-to-permanent financing is one of several solutions we leverage for our clients’ CRE financing needs.
This summary describes a closed transaction for informational purposes and is not an offer of financing or a statement of current pricing, which varies with market conditions, property type, sponsor credit and program requirements.
