EBSC Lending Closes $26.56M Bridge Loan for Multifamily Refi.

HOUSTON, TX — EBSC Lending has closed a $26.56 million bridge loan to refinance a mid-rise, loft-style multifamily property located in Houston, Texas. The financing supports the continued lease-up and stabilization of the asset while positioning the borrower for a future agency takeout.

The transaction was originated by David Palmer, Vice President of Special Assets at EBSC Lending, and structured to provide non-recourse, bridge-to-agency financing aligned with the property’s business plan and affordability profile.

Transaction Overview

The subject property is a 60-unit multifamily community originally constructed in the 1980s and later repurposed as a warehouse and distribution center during the 1990s. Acquired in 2019, the building was subsequently redeveloped into a modern, loft-style residential property designed to meet growing demand for adaptive-reuse housing in urban Houston.

The community now features a range of amenities, including a fitness center, storage facilities, dedicated parking, and landscaped outdoor areas. Importantly, 20 units—representing approximately 18% of the total—are reserved for affordable housing, contributing to broader housing accessibility within the local market.

The bridge loan was structured to provide flexibility throughout the lease-up period while minimizing friction costs ahead of stabilization. In connection with the financing, David Palmer, Vice President of Special Assets at EBSC Lending, stated, “We are proud to provide flexible, non-recourse bridge-to-agency lease-up financing that allows our client to manage the loan seamlessly throughout the lease-up period and transition smoothly into stabilized Agency execution with minimal friction costs.”

From the sponsor’s perspective, the transaction supported both investment objectives and affordability goals. Brandon Cooke, the project sponsor, commented, “This transaction not only supports our investment goals but also helps address the critical demand for affordable housing in Houston. Partnering with EBSC Lending made the process efficient and collaborative.”

Market Context + What It Means

Houston continues to experience strong demand for multifamily housing driven by population growth, employment diversification, and relative affordability compared to other major U.S. metros. Adaptive-reuse projects, particularly loft-style communities, play an important role in meeting renter demand while preserving existing building stock and supporting neighborhood revitalization.

At the same time, transitional assets with affordability components often require bridge financing solutions that can accommodate lease-up timelines and future agency execution. Private bridge-to-agency loans enable sponsors to stabilize properties efficiently while maintaining flexibility prior to permanent financing.

By delivering a non-recourse bridge loan tailored to the asset’s lease-up profile and affordability mix, EBSC Lending enabled the borrower to advance toward stabilization while maintaining a clear path to long-term agency financing.

Frequently Asked Questions

What type of loan did EBSC Lending provide for this transaction?

EBSC Lending provided a $26.56 million non-recourse bridge loan designed to support lease-up and transition the property toward stabilized agency execution.

Why is bridge-to-agency financing important for multifamily properties?

Bridge-to-agency financing allows borrowers to refinance or reposition assets during lease-up while preserving flexibility before transitioning to long-term, permanent agency debt.

What role does affordable housing play in this project?

Approximately 18% of the units are reserved for affordable housing, helping address local housing demand while supporting the property’s long-term stability.

What types of multifamily projects does EBSC Lending finance?

EBSC Lending finances bridge, construction, and transitional loans for multifamily, mixed-use, and commercial real estate projects nationwide.

Related EBSC Lending Financing Programs

EBSC Lending provides flexible private capital solutions across the United States, including:

• Commercial Bridge Loans – Short-term financing for transitional and stabilized commercial real estate assets

• Multifamily Bridge Loans – Bridge-to-agency solutions for lease-up and repositioning strategies

• Multifamily Financing – Acquisition, refinance, and transitional loans for apartment communities

View the official announcement: https://www.abladvisor.com/news/41748/ebsc-lending-closes-26-56mm-bridge-loan-to-refinance-multifamily-property