How to Get a $10M+ Commercial Bridge Loan: A Sponsor's Guide
January 29, 2026 • Travis Penny
Institutional bridge lenders writing $10M+ checks don't shop the same way community banks do. They underwrite the asset, the sponsor, and — most importantly — the takeout. Here is what they actually look for and how to package a file that closes.
Sponsor Profile
Net worth at or above the loan amount, liquidity at 10% of the loan amount, real estate experience in the asset class, and a clean credit / litigation background. Institutional sponsors meet this without thinking; first-time large-balance sponsors need to bring a key principal who does.
The Asset
A clear basis story (purchase price, in-place NOI, projected NOI), a defensible business plan, and recent third-party reports (rent roll, T-12, T-3, environmental, engineering for older assets). Hotels need STR reports. Healthcare needs operator data.
The Takeout
Real takeout, real lender, real timing. "We'll figure it out later" gets your file ignored. Bridge lenders price aggressively when they see a clean refinance path — agency, HUD, CMBS, life company, or sale.
The Package
A 10 to 30 page deck: deal overview, sponsor bio, business plan, sources and uses, projections, and the takeout plan. The cleaner the package, the tighter the pricing.
What to Expect on Pricing
$10M+ institutional bridge debt today prices at SOFR + a spread that varies by asset class, leverage, and takeout strength. Stabilized multifamily bridge prices tightest. Hospitality, lease-up, and construction completion bridge prices wider.
Have a deal that fits this?
Send the file or pick up the phone. I answer 7 days a week.