Ohio Multi-Family

1892 Capital Partners provided a $748,675 bridge loan to Pumzika, LLC, secured by an 82-unit motel located at 1289 E Dublin Granville Road in Columbus, Ohio.

The property totals 26,972 square feet and operates under a 15-year modified NNN master lease, providing transitional housing in partnership with the City. This structure creates a stable, contract-backed income stream, positioning the asset as a predictable, cash-flowing investment within both the hospitality and housing sectors.

The Opportunity

The borrower owned a stabilized, income-producing asset with strong in-place cash flow supported by a long-term lease.

However, the equity in the property was largely inaccessible under traditional financing structures. Many lenders are hesitant to provide cash-out refinance options, particularly for hospitality assets, even when income is secured through long-term agreements.

The borrower’s objective was clear:
unlock equity to redeploy capital into a new investment opportunity without disrupting the existing asset.

The Financing Solution

1892 Capital Partners structured a 12-month cash-out bridge loan at 11.50% interest, with a conservative 26.74% loan-to-value (LTV).

The structure provided:

• Immediate access to trapped equity
• Continued ownership of a stabilized, cash-flowing asset
• Flexibility to redeploy capital into new opportunities
• A clear path toward refinance

Rather than focusing solely on asset-class constraints, the underwriting focused on income durability and lease strength.

Why Bridge Financing Made Sense

Even strong, stabilized assets can benefit from bridge financing when:

• Equity needs to be accessed quickly
• Traditional lenders restrict cash-out proceeds
• Asset type limits conventional refinance options
• Timing matters for the redeployment of capital

In this case, the long-term master lease provided a level of income predictability that supported a practical and flexible lending solution.

Execution & Outcome

1892 Capital Partners successfully closed this cash-out bridge loan, delivering a structure aligned with the borrower’s broader investment strategy.

The borrower is now positioned to:

• Redeploy capital into additional investments
• Maintain ownership of a stable, income-producing asset
• Transition into permanent financing at the appropriate time

This transaction reflects 1892’s approach to lending: looking beyond asset labels and focusing on real cash flow, real structure, and real opportunity.