Bridger Commercial Funding LLC, a commercial real estate finance company that originates commercial mortgage-backed securities (CMBS) loans, has announced the addition of a mezzanine financing product to its CMBS origination program. The mezzanine financing capability is made possible through a strategic relationship with New York Mortgage Trust Inc. (NYMT).
"Bridger's CMBS-Mezzanine combined financing program adds value for clients by providing the extra proceeds they need to make transactions work as the CMBS market recovers," said Steve Mumma, co-chief executive officer of Bridger Commercial Funding. Mumma also serves as chief executive officer and president of NYMT.
"The program assists a growing number of property owners faced with unprecedented gaps between what they owchief executive officer of Bridger, and chairman of NYMT.
Bridger will issue mezzanine loans of $0.5 million to $5 million, but only on transactions where Bridger is originating the senior CMBS loan. By leveraging the underwriting for the CMBS loan, Bridger is able to provide a quicker, more efficient approval process and cost-effective all-in financing solution.
For more information, visit www.bridgerfunding.com.