EBSC Lending Closes $19.5M First Mortgage Bridge Loan.
- Martin Alex
- Feb 20, 2025
- 3 min read
Updated: 5 days ago
MILWAUKEE, WI — EBSC Lending has successfully closed a $19.5 million first mortgage bridge loan to refinance and lease up a newly completed 57-unit multifamily project located in Milwaukee, Wisconsin. The development also includes ground-floor commercial space, supporting a mixed-use residential environment.
Transaction Overview
The financing was structured to refinance existing obligations and support the lease-up phase of the completed project. The property consists of 57 residential units, including five units designated for low-income housing, 41 one-bedroom lofts, one one-bedroom penthouse, and four studio units.
Each unit features high ceilings, a full suite of appliances including in-unit washer and dryer, and large floor-to-ceiling windows, with 47 residences offering private balconies or patios. In addition to the residential component, the property includes approximately 3,182 square feet of ground-floor commercial space and a 2,900 square-foot outdoor courtyard, enhancing tenant experience and neighborhood activation.
The borrower is an institutional real estate investor with a national footprint, managing a portfolio exceeding 10,000 residential units and more than 30 million square feet of commercial space. In connection with the transaction, Martin Alex, Chief Executive Officer of EBSC Lending, stated, “Our client reached out to EBSC Lending for financing due to our well-established reputation for seeking capital solutions for middle-market real estate across the country. With limited new developments and projects in the area, coupled with the strong demographic trends and growth prospects in Milwaukee, we were able to close this deal swiftly and successfully for our institutional investor client. This investment underscores our confidence in Milwaukee's potential and the strength of the Borrower.”
Market Context + What It Means
Milwaukee continues to benefit from favorable demographic trends, constrained new multifamily supply, and steady demand for modern rental housing. Newly completed projects with high-quality design, outdoor amenities, and mixed-use components are particularly well positioned during lease-up.
First mortgage bridge financing plays a critical role in allowing sponsors to stabilize completed assets, improve cash flow, and prepare for permanent takeout financing. Bridge loans structured to support lease-up provide flexibility while preserving optionality in evolving capital markets.
By delivering a first mortgage bridge loan tailored to the property’s stabilization profile, EBSC Lending enabled the borrower to refinance efficiently, maintain operational momentum, and position the asset for long-term performance in a growing Midwest market.
Frequently Asked Questions
What type of loan did EBSC Lending provide for this project?
EBSC Lending provided a $19.5 million first mortgage bridge loan to refinance and support the lease-up of a newly completed multifamily and mixed-use development.
Why is first mortgage bridge financing important during lease-up?
First mortgage bridge loans allow sponsors to stabilize completed assets, optimize cash flow, and transition efficiently to permanent financing.
What makes Milwaukee an attractive multifamily market?
Milwaukee offers limited new supply, improving demographic trends, and strong demand for modern rental housing in well-located urban submarkets.
What types of projects does EBSC Lending finance?
EBSC Lending provides bridge, construction, and transitional financing solutions 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-stabilization and bridge-to-agency solutions
