The Heron, 82- Unit Apartment Complex

1892 Capital Partners provided an $11,000,000 bridge loan for The Heron, an 82-unit apartment complex located in Tacoma’s East Side neighborhood.

The property features studio and one-bedroom apartments with views of Commencement Bay and the Port of Tacoma, offering a blend of historic character and modernized living.

This financing was structured as a short-term bridge refinance, enabling the borrower to replace an existing lender and maintain forward progress on a pending sale.

The Opportunity

The borrower was in the process of executing a sale of the property but faced a timing issue when the existing lender was unwilling to extend the loan.

This created a gap between:

• Loan maturity
• Sale timeline
• Capital availability

Without a timely financing solution, the transaction risked disruption.

The borrower needed fast, reliable capital to bridge this gap and preserve the sale.

The Financing Solution

1892 Capital Partners structured a short-term bridge loan designed to provide immediate stability and align with the expected sale timeline.

The structure provided:

• Payoff of the existing lender
• Continuity of ownership during the sale process
• Flexibility aligned with closing timelines
• Certainty of execution in a time-sensitive situation

Rather than forcing a rushed outcome, the bridge loan allowed the borrower to protect the transaction and proceed as planned.

Why Bridge Financing Made Sense

Bridge loans are often critical in situations where timing, not asset quality, is the primary challenge.

Even strong multifamily assets can face disruption when:

• Existing lenders do not extend
• Sale timelines shift
• Capital needs to be replaced quickly

A bridge loan allows borrowers to maintain control and keep transactions moving forward without compromise.

Execution & Outcome

1892 Capital Partners successfully closed this bridge refinance loan, allowing the borrower to move forward with the pending sale without interruption.

The borrower was able to:

• Replace the existing lender
• Maintain deal momentum
• Execute on the planned disposition

This transaction reflects 1892’s approach to lending: solving timing challenges, protecting transactions, and delivering capital when execution matters most.