Ohio Multi-Family
1892 Capital Partners recently funded a $748,675 bridge loan for Pumzika, LLC, secured by an 82-unit motel in Columbus, Ohio operating under a 15-year modified NNN master lease for transitional housing with the City. Structured at a low 26.74% LTV with a 12-month term and 11.50% interest rate, this financing provided the borrower with cash-out proceeds to pursue an additional investment opportunity while maintaining a stable, income-producing asset. This transaction highlights the advantage of flexible private capital in unlocking equity and creating forward momentum for experienced operators.
1892 Capital Partners recently funded a $748,675 bridge loan for Pumzika, LLC, secured by an 82-unit motel located at 1289 E Dublin Granville Road in Columbus, Ohio. The 26,972 square foot property, originally built in 1970, operates under a 15-year modified NNN master lease providing transitional housing in partnership with the City.
This structure offers consistent, contract-backed income, positioning the asset as a stable, predictable cash-flowing investment in the hospitality and housing sectors.
Strategic Cash-Out Bridge Financing
The borrower sought to access trapped equity in the property to pursue an additional investment opportunity. Traditional lenders often restrict cash-out scenarios, particularly on hospitality assets, even when supported by long-term lease structures.
1892 Capital Partners structured a 12-month bridge loan at 26.74% loan-to-value (LTV) with an 11.50% interest rate, allowing the borrower to unlock liquidity while maintaining control of a stabilized, income-producing asset.
Our approach focused on the strength of the lease, the durability of the income stream, and the borrower’s forward-looking investment strategy.
