Equity Cash-Out Bridge
Equity Cash-Out Bridge Loan for Residential Land in Kaneohe, HI
- Loan Amount
- $1,326,000
- Loan-to-Value
- 65%
- Interest-Only Term
- 6 Months
- Private Loan Type
- Equity Cash-Out Bridge
- Approx. Funding Date
- June 10, 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 $1,326,000 equity cash-out bridge loan secured by eight subdivided vacant land parcels in Kaneohe on the island of Oahu, HI. Koa Mortgage Fund, a pooled mortgage debt fund, funded the loan at a conservative 65% loan-to-value based on a $2,040,000 appraised property value. The Borrower, an experienced Hawaii developer, used the loan proceeds to pay off a maturing land note. The financing relieved balloon payment pressure, improved liquidity, and included an interest reserve to support cash flow while providing time to advance entitlement and development plans. The land size is approximately 159,821 square feet or 3.66 acres. The Borrower had excellent credit. They plan to refinance as an exit strategy. The interest rate was 13.75%. The loan term was set at 6 months. This bridge loan was funded in June 2025.
Deal Highlights
- Borrower owned 8 fully subdivided parcels of land in Kaneohe, Oahu, with a balloon payment due.
- A Hawaii-based developer, they leveraged a cash-out refinance to eliminate immediate payoff risk.
- Financing included an interest reserve to minimize out-of-pocket expenses during the loan term.
- Exit Strategy: Refinance into a ground-up construction loan once building permits are approved.
Property & Loan Details
- Property City
- Kaneohe
- Property State
- HI
- Loan Term (months)
- 6
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $2,040,000
- Property Neighborhood
- Oahu
- Location Type
- Rural
- Property Condition
- Vacant Land
- Occupancy at Closing
- Vacant
- Lot Square Footage
- 159,821
- Lot Acreage
- 3.66
- Borrower's Plan
- Build and Hold
- Exit Strategy
- Refinance
- Borrower Credit Rating
- Excellent
- Interest Rate
- 13.75%
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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