FOR IMMEDIATE RELEASE
April 1, 2026

Contact:
Cyd Hatch
(703) 635-6312 | cydh@corlissco.com

1892 Capital Partners Funds $15.1MM Bridge Loan for Newly Constructed Multifamily Asset in Port Orchard, Washington

PORT ORCHARD, WA – 1892 Capital Partners, a direct private lender specializing in bridge financing for income-producing real estate, is pleased to announce the successful funding of a $15,100,000 bridge loan for Cedar Cove Commercial, LLC, secured by a newly constructed 58-unit multifamily property located at 1601 and 1621 Plisko Lane in Port Orchard, Washington.

The loan was structured at 83.20% loan-to-value (LTV) and 80.98% loan-to-cost (LTC), with a 12-month term and a 9.75% interest rate. The financing provides a pre-stabilization bridge to permanent financing, allowing the borrower to complete lease-up while maintaining flexibility for a refinance or sale.

The property, completed in 2025 and totaling approximately 45,907 square feet, represents a modern multifamily asset entering its stabilization phase. As with many newly delivered projects, timing between construction completion and stabilized occupancy can create a gap where traditional lenders hesitate. This bridge loan was designed to close that gap with clarity and speed.

Bridge Financing for Lease-Up and Stabilization

This transaction highlights 1892 Capital Partners’ ability to support newly constructed assets that are in the critical transition from completion to stabilization.

“In today’s market, the challenge is often not the quality of the asset, but the timing of capital,” said a representative of 1892 Capital Partners. “New construction multifamily deals like this require a lender who understands lease-up risk and can structure around it. This was about providing the borrower with a clear path forward, not slowing the deal down with unnecessary friction.”

By delivering a high-leverage bridge solution, 1892 enabled the borrower to navigate the lease-up phase with confidence while preserving optionality for both refinancing and disposition.

Deal Snapshot

Loan Amount: $15,100,000
Property Type: Multifamily (58 Units)
Location: Port Orchard, Washington
Square Footage: 45,907 SF
Year Built: 2025
LTV: 83.20%
LTC: 80.98%
Interest Rate: 9.75%
Term: 12 Months
Loan Purpose: Prestabilization Bridge Financing
Exit Strategy: Sale or Refinance
Outcome: Successfully closed Bridge-to-Refinance solution

Execution Where Timing Matters Most

New construction projects often face a narrow window between completion and stabilization where execution matters most. Delays in securing the right financing during this phase can impact lease-up velocity, investor returns, and long-term positioning.

This closing reflects 1892 Capital Partners’ continued focus on providing practical, execution-driven capital for real estate operators navigating transitional moments. Whether stabilizing a multifamily asset, refinancing a maturing loan, or repositioning a property, the firm structures loans around real-world timelines and business plans.

About 1892 Capital Partners

1892 Capital Partners is a direct private lender that provides bridge financing to real estate investors, brokers, and operators. Backed by a multi-generational real estate platform, the firm brings over 30 years of experience across development, acquisitions, and asset management.

By leveraging its own capital, 1892 Capital Partners offers speed, flexibility, and execution certainty, delivering tailored financing solutions for real-world projects.

Common loan scenarios include:
▶️ Income-producing bridge loans
▶️Cash-out refinance strategies
▶️Lease-up and prestabilization financing
▶️Time-sensitive acquisitions and transitions

For more information, visit:
https://www.1892capital.com

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If you’re navigating a deal that doesn’t quite fit conventional lending, we’re always open to a conversation.
We lend our own capital. We move quickly. And we structure around real opportunities.