$1.4M Partner Buyout Bridge: 11-Property Rental Portfolio
Tampa, FL: A partnership dissolution required financing to acquire an 11-property rental portfolio across Tampa and St. Petersburg. Helvetica provided a $1.4 million first-mortgage refinance to replace existing debt, with no cash out to the partners, on an 18-month interest-only term at a reported 55% LTV.
The Borrower's Problem
A foreign-national owner needed to acquire an 11-property residential rental portfolio as part of a partnership dissolution. The properties were leased and had been owned and stabilized for more than 3 years. The transaction required replacing existing debt while keeping the income-producing portfolio intact.
This was not a cash-out transaction. The financing needed to support the ownership transition and give the borrower time to arrange an institutional refinance.
The Helvetica Solution
Helvetica provided a $1.4 million loan secured by first mortgages on the rental portfolio. The initial term was 18 months, with interest-only payments and a reported 55% LTV. Proceeds replaced existing debt; no cash out was provided to the partners.
The collateral consisted of 7 condominiums in a waterfront St. Petersburg community, plus a single-family home, a triplex, and 2 duplexes in Tampa. Together, the properties comprised 12,326 SF. All were leased for rental income.
The borrower had received multiple Helvetica loans and paid as agreed. That relationship, along with the leased collateral, supported a bridge structure for the partnership transition. The planned exit was a refinance with an institutional lender once occupancy supported traditional financing.
Benefit to the Borrower
- $1.4 million of financing to replace debt during the partnership dissolution
- One financing structure across 11 income-producing properties in 2 Florida cities
- An 18-month interest-only term while arranging permanent financing
- Financing for a foreign-national owner with an established payment record
- Retention of the rental portfolio without a cash-out distribution to partners
Deal Highlights
- $1.4 million first-mortgage refinance; reported 55% LTV
- 11 properties totaling 12,326 SF in Tampa and St. Petersburg, FL
- 7 condominiums, 1 single-family home, 1 triplex, and 2 duplexes
- Leased rental collateral owned and stabilized for more than 3 years
- 18-month initial term with interest-only payments
- Exit strategy: refinance with an institutional lender
Need financing for a partnership transition?
Helvetica funds bridge and structured loans from $300K–$10M+, typically closing in 3–10 days following receipt of all requested documentation.
