Multi-structure residential property

1892 Capital Partners provided a $451,925 bridge loan to WAWE Puyallup, LLC for a residential investment property located at 520 and 528 5th Street NE in Puyallup, Washington. The asset includes a single-family residence and a triplex, offering a diversified rental income stream within a single site. This financing was structured as a short-term bridge loan for a rate-and-term refinance, allowing the borrower to reposition their debt ahead of a longer-term financing solution.

The Opportunity

The property consists of:

• A single-family residence totaling 814 square feet
• A triplex totaling 2,880 square feet, with 3-bedroom, 2-bedroom, and 1-bedroom units
• A 3-car garage supporting the triplex

With original construction dates of 1900 (adjusted 1972) for the SFR and 1979 (adjusted 1988) for the triplex, the asset represents a stabilized, income-producing property with functional updates over time.

However, the borrower needed a short-term capital solution to reset loan terms and improve financing structure before moving into permanent debt.

The Financing Solution

1892 Capital Partners structured a 6-month bridge loan at 12% interest, with a conservative 50.22% loan-to-value (LTV).

The structure provided:

• A streamlined rate-and-term refinance solution
• Short-term flexibility without long-term constraints
• Time to position the asset for improved permanent financing
• Certainty of execution in a smaller-balance transaction

For smaller loan sizes and mixed residential assets, traditional financing options can be limited or inefficient. This bridge loan allowed the borrower to move forward without unnecessary friction.

Why Bridge Financing Made Sense

Even stabilized residential assets can require bridge financing when:

• Existing debt terms are no longer favorable
• A refinance needs to happen quickly
• Loan size or property configuration limits conventional options

By using a bridge loan, the borrower gained control over timing and structure, rather than forcing a longer-term solution under suboptimal conditions.

Execution & Outcome

1892 Capital Partners successfully closed this bridge-to-refinance loan, delivering a practical solution aligned with the borrower’s immediate needs and long-term strategy.

The borrower is now positioned to:

• Transition into permanent financing
• Improve loan terms
• Maintain operational stability across the property

This transaction reflects 1892’s ability to support smaller-balance, real-world deals with the same focus on execution, clarity, and flexibility.