$600K Cash-Out Bridge: 11 Entitled Luxury Lots in Reno
Reno, NV — A high-net-worth developer held a co-ownership interest in one of the last remaining entitled parcels in a prestigious Reno golf course community — 11 luxury residential lots on 12.49 acres — and wanted to unlock that equity without selling. Helvetica funded a $600,000 first-mortgage cash-out bridge against the borrower's interest in the property.
The Problem
The collateral was raw land — vacant, unstabilized, and held through a tenant-in-common structure with multiple owners. The borrower needed capital against its interest in the parcel, a request conventional lenders routinely decline regardless of the underlying value: adjacent homes in the community are valued between $3 and $5 million, and the full 12-acre property carried a $3 million broker opinion of value.
The Helvetica Solution
Helvetica funded a $600,000 senior first-mortgage cash-out bridge on an 18-month interest-only term — 40% loan-to-value against the $1,500,000 market value of the borrower's interest. The borrower is the original developer of the golf course community, and these lots represent some of the last remaining inventory in it.
Benefit to the Borrower
- Unlocked equity in raw, co-owned land without selling the lots
- Financed against an unstabilized, non-income-producing asset
- 18-month interest-only term with no pressure to liquidate early
- Low 40% leverage preserved a wide equity cushion
Deal Highlights
- $600,000 first-mortgage cash-out bridge loan
- 40% LTV against a $1,500,000 market value
- 18-month interest-only term
- 12.49-acre parcel entitled for 11 luxury residential lots
- Prestigious Reno golf community minutes from Lake Tahoe
- Exit: sale of other borrower-owned assets in the community
Sitting on equity in land or lots?
Helvetica funds cash-out bridge loans from $300K–$10M+ with closings typically 3–10 days following receipt of all requested documentation.
