BridgeCore Capital, Inc. has closed a $450,000 reverse exchange financing of a residential rental property in Hayden Lake, Idaho, the company announced. The transaction required the borrower to finance the acquisition of a replacement property through a reverse exchange involving two relinquished properties in Hayden Lake—one already sold and the other yet to be sold.
The borrower faced an imminent exchange deadline, making certainty and speed of execution essential. BridgeCore funded the loan in less than 14 business days to meet that deadline, according to the announcement. The company worked closely with a leading national 1031 exchange company, the borrower, and the title company to coordinate an efficient closing and ensure the transaction was completed on schedule.
The deal highlights the importance of specialized financing in complex real estate transactions governed by strict timelines. In a 1031 exchange, investors can defer capital gains taxes by reinvesting proceeds from the sale of a relinquished property into a replacement property within a 45-day identification period and a 180-day closing window. When a replacement property must be acquired before the relinquished property is sold, a reverse exchange structure is used. These transactions often require interim financing to bridge the gap, and delays can jeopardize the tax benefits.
BridgeCore’s ability to close quickly—leveraging its extensive experience, in-house capabilities, and flexible capital base—solved a critical timing challenge while delivering highly competitive financing terms, the company said. The transaction underscores the demand for nimble bridge lenders capable of executing under pressure.
BridgeCore Capital provides bridge loans on commercial and non-owner occupied residential real estate in the U.S., including origination of senior, junior and mezzanine debt and preferred equity. The firm also offers its “Bridge Loan Program,” which provides flexible pre-pay, interest only, non-recourse, and floating-rate financing with one- to three-year terms for loan sizes ranging from $15 million to $50 million or more. For more information, visit www.bridgecorecapital.com.
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