Bridge Loan
Bridge Loan for Residential Land Refinance in Kamuela, Hawaii
- Loan Amount
- $545,500
- Loan-to-Value
- 68.18%
- Interest-Only Term
- 12 Months
- Private Loan Type
- Bridge Loan
- Approx. Funding Date
- September 16, 2025
- Property Type
- Residential Land
Deal Summary
Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to finance a $545,500 refinance bridge loan secured by residentially zoned land in Kamuela, HI. Koa Mortgage Fund, a pooled mortgage debt fund, funded the loan at a conservative 68.18% loan-to-value based on an $800,000 appraised property value, providing strong collateral coverage. Loan proceeds were used to repay a land loan that matured in 2024. The Borrower had excellent credit and is an experienced home builder, having completed five ground-up construction projects over the past two years. This financing enabled the Borrower to extend their hold period and execute their exit strategy amid challenging market conditions, which included the sale of a nearby free-and-clear vacant lot. The land is approximately 13,861 square feet. The interest rate was 13%. This 12-month bridge loan was funded in September 2025.
Deal Highlights
- Borrower used a refinance bridge loan to pay off a maturing land loan used to acquire vacant land.
- The property was acquired in 2024 using a Myers Capital bridge loan in a reverse 1031 exchange.
- New financing provided additional time and flexibility to navigate a challenging land market.
- They will sell a nearby free and clear vacant lot, which will be used to exit the loan.
Property & Loan Details
- Property City
- Kamuela
- Property State
- HI
- Loan Term (months)
- 12
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $800,000
- Property Neighborhood
- Kamuela
- Location Type
- Vacation Area
- Lot Square Footage
- 13,861
- Lot Acreage
- 0.32
- Exit Strategy
- Sale
- Borrower Credit Rating
- Excellent
- Interest Rate
- 13%
Loan Originator
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company and direct private lender based in Honolulu, Hawaii. As a second-generation family business owner, Reed is personally involved in over $2 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland. Myers Capital provides efficient mortgage lending and real estate advisory services in 42 states.
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