$1.01M Purchase Bridge: Five-Home Partnership Buyout
Tampa and other Florida cities: A borrower needed to buy the final 5 homes from a former partnership's real-estate portfolio. Helvetica provided a $1.01 million first-mortgage purchase loan at a reported 54.3% LTV. The plan was to rent 4 homes, sell 1, and refinance the retained rentals with a long-term lender.
The Borrower's Problem
A former partnership had acquired a portfolio of several hundred non-performing loans. Its final 5 homes had become real-estate-owned properties through foreclosure. The borrower needed acquisition financing to purchase those remaining assets and allow the prior ownership entities to close out.
The purchase price was $1.23 million. The homes were held free and clear, but the business plan combined rental stabilization with the repair and sale of 1 property. The financing needed to support that ownership transition before permanent rental financing was arranged.
The Helvetica Solution
Helvetica provided $1.01 million secured by first mortgages on the 5 homes. The loan summary reported a 12-month term with interest-only payments and 54.3% LTV against a $1.86 million broker opinion of value.
The collateral spanned 5 Florida cities. Several homes had already received roof, HVAC, flooring, or other updates. The home designated for sale had a planned $35,000 cosmetic repair budget and a target sale window of 90 to 120 days.
The projected market rent across all 5 homes was $12,650 per month, not a statement of collected income. The borrower planned to retain 4 homes as rentals and refinance them with a long-term lender. The borrower also had a prior Helvetica loan relationship with payments made as agreed.
Benefit to the Borrower
- $1.01 million of financing toward the $1.23 million portfolio purchase
- One bridge structure covering 5 homes in separate Florida cities
- Interest-only payments during the rental stabilization and sale period
- A path to retain 4 rental homes while selling 1 property after repairs
- Financing to complete the purchase of the prior partnership's final 5 assets
Deal Highlights
- $1.01 million first-mortgage purchase loan; reported 54.3% LTV
- 5 single-family homes; reported portfolio building area of 7,308 SF
- $1.23 million purchase price and $1.86 million broker opinion of value
- 12-month term reported in the loan summary; interest-only payments
- Projected market rent of $12,650 per month across all 5 homes
- Exit strategy: sell 1 home and refinance the remaining 4 rentals
Need financing for a portfolio purchase or partner buyout?
Helvetica funds bridge and structured loans from $300K–$10M+, typically closing in 3–10 days following receipt of all requested documentation.
