Bluestone Commercial Capital LLC is a direct lender specializing in short-term commercial bridge loans secured by first liens on commercial real estate. By having an underwriting process that examines borrower integrity, strength of collateral, and a sound exit strategy, borrower by borrower, Bluestone is able to offer much needed financing to an underserved borrower base.
Being a direct balance-sheet lender means Bluestone uses it’s own capital when deploying loans. As a result, all underwriting and investment decisions are made by Bluestone’s team which you, as the borrower, have direct access to.
Bluestone targets small-balance loans between $200,000 and $3,000,000. These small business loans and lower balance commercial real estate loans are designed to reach an often overlooked and underserved borrowing base, traditionally known to be clients of local community banks.
Our loan product is a 12-month interest-only term, commonly referred to as bridge financing. The short-term nature of our loans are designed to temporarily improve a borrower’s position before they refinance or sell their property. The idea is to provide borrowers with the quick and easy financing they need to get a property under contract and closed.
Bluestone’s pricing starts at 11.99% but can vary as national price indices change. The interest rate is paid towards your loan amount on an interest-only basis.
Bluestone’s maximum loan-to-value on 1-4 family investment properties is 70%. On all other commercial real estate assets, Bluestone has the capacity to max out at 65% LTV. Many factors impact the loan-to-value including cash flow, credit score and the geographic location of the asset.
A Bridge Loan from Bluestone can work for many different purposes, giving you the flexibility to use the funds where you need most.
Are you booking to purchase another building for your business or an investment property to add to your portfolio? Bluestone can act quickly and help you secure the property before it is too late.
Do you have multiple debt obligations, making it difficult to manage your various payments? Bluestone is able to consolidate credit card, payroll, MCA, and real estate debt as well as other forms of debt that are weighing on your business or real estate portfolio.
Looking to purchase another investment property but lack the cash to do so? Try pulling our equity in your existing real estate by refinancing through Bluestone. Unlock cash from a refinance and use it for working capital or other real estate investments.
In certain instances, you may need to buyout a member of your LLC who owns a partial interest in a real estate holding. Bluestone can assist by refinancing the property, allowing you to use the proceeds from the transaction to buyout your partner(s).
Are you a small business owner in need of additional working capital to drive growth for your business? See if Bluestone can assist you! Refinance your property and pull out cash to generate more cash flow for your business.
Do you own a single-family, duplex, triplex or quadplex property? Allow Bluestone to help you secure financing and generate cash flow before refinancing with a conventional or permanent lending option. Bluestone can also offer renovation financing, allowing you to complete the final touches on each unit to market the property as a rental.
Having issues getting financing on a mixed-use property with a retail store on the first floor and apartments on the second level? Apply online and get a quote within 48 hours on financing options with Bluestone. You can even cross collateralize additional real estate holdings to increase the strength of your application.
Small-balance multifamily properties of 5+ units offer financing challenges of their own. Lenders in the space are looking for higher balance loans above $5M or they need a certain DSCR (Debt-Service Coverage Ratio) to make the deal work. Try financing with Bluestone to demonstrate history of lender payments, or “seasoning”, before refinancing once the property is fully occupied.
Since the pandemic, Office as an asset class has seen better days. Often times, however, Office is generalized and looked at with broad strokes. Bluestone is active in the suburban, small-balance office space, providing financing for many local dental practices, law offices, and tax firms.
Many lenders can only lend on specific retail assets based on the businesses that occupy the store. As an asset based lender, Bluestone relies on the real estate or property value to determine the terms of the loan. Bluestone has financed all types of retail stores from chains and franchises to small mom-and-pop boutiques.
Bluestone has a high concentration of Industrial assets within the portfolio. These assets require environmental reports (RSRA, Phase I, Phase II, etc.) which many lenders tend to stay away from. Fortunately, Bluestone has developed relationships with third-party environmental firms.
Bluestone is based in southern New Jersey, focusing primarily on originating commercial real estate loans in the Mid-Atlantic and Florida. Through organic growth and building out relationships with third-party vendors, Bluestone now has the ability to lend nationwide, targeting densely populated areas with active sale comps.
Get in touch today to find out how our regional expertise can work for you.
A direct lender is a credit provider who offers loans directly to borrowers without intermediaries. This means that the lender finances the deal with its own balance sheet rather than originating through another lending source. As a direct lender, Bluestone handles the entire loan process and is responsible for underwriting the loan, setting the terms, and servicing the loan throughout its life. The main advantage of working with a direct lender like Bluestone is that you are dealing directly with the funding source which often leads to quicker closing timeframes.
Once a term sheet is executed by the borrower, Bluestone will order third-party reports including appraisal, title, etc. Depending on the location of the property, this will take 1.5-3 weeks. Generally speaking, Bluestone can close within a 14-21 day timeframe. On certain loans where third-party reports have already been recently ordered, Bluestone has closed in as soon as 3 business days.
Many of our borrowers are real estate investors who are able to scale their real estate portfolios by borrowing against their equity. Bluestone offers cash-out refinances where investors can pull out cash from real estate with little to no debt and use that cash to purchase other properties.
Yes. Bluestone has the ability to cross-collateralize multiple properties to offer additional loan proceeds to borrowers who are short on cash. This allows borrowers to keep extra cash in their pocket while also ensuring that Bluestone maintains its standard loan-to-value (LTV) requirements.
Bluestone offers 70% loan-to-value on residential investment properties, including multifamily. For commercial asset types including industrial, retail, mixed-use and office, Bluestone’s maximum loan-to-value is 65%.
Bluestone can provide 1-year, 2-year or 3-year bridge loans. In each case, Bluestone will offer a 6-month extension option assuming the borrower is in good standing.
Bluestone can lend nationwide but we are primarily focused in the Mid-Atlantic region.
Bluestone does not provide loans on land or ground-up development. Special-use asset types will be reviewed on a case-by-case basis.
The key differences between Bluestone and a bank revolves around structure, lending criteria, and flexibility. Banks are regulated financial institutions who must abide by federal and state regulations which often leads to longer underwriting times and more document collection from borrowers. As a private fund, Bluestone is able to act quickly in its decision making and underwriting as we do not adhere to the same rules and regulations as a conventional lender. Another main difference is loan structure – banks are able to lend at lower interest rates and standardize their loan products whereas private lenders like Bluestone are often a bit more expensive but can offer more flexibility and custom oriented loan terms. Ultimately, Bluestone offers financing to many borrowers who do not fit into the traditional lending landscape but may qualify for a bank after a bit of “seasoning”.
The term “hard money” gets thrown around a lot in the private lending space. It is a term often associated with predatory short term lenders who underwrite based only on collateral. In some scenarios, these lenders may even originate a loan with the intent to foreclosure on the collateral, sometimes allowing them to make a profit in excess of the interest rate on the loan. Borrowers must be careful to only engage with reputable lenders that have a proven track record. Our borrowers must maintain minimum credit scores and display adequate income standards in order for Bluestone to formalize a loan commitment. Although Bluestone is a real estate lender, the term “hard money” is misleading to borrowers and harmful to legitimate private lenders.
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