Industrial flex, retail, hospitality, car washes and other special-purpose CRE, and transitional mid-market multifamily. Underwritten on NOI, tenancy, sponsor, and exit — separate from DSCR rentals and small residential flips.
Lane A · Investor
1–4 unit rentals, small multifamily, DSCR, fix & flip, STR, and residential-style bridge. That is the rest of this site — programs, playbooks, and the homepage scenario desk.
Investor programs →Lane B · This page
Non-residential commercial assets and larger transitional multifamily private credit — industrial, retail, hospitality, special-purpose CRE, and mid-market MF where the rent roll and capital stack drive the underwrite. Typical range roughly $1M–$20M+; smaller CRE when the file fits.
Send a CRE file →Indicative facts from funded files only. Amounts and markets shown where marketing disclosure allows — no guaranteed rates or approvals.
33-unit transitional multifamily
Fort Myers, FL · Permanent acquisition · 6.65%
A 33-unit Gulf Coast multifamily most desks would only touch as expensive bridge — structured as permanent acquisition with seller credits and a lease-up runway.
26-unit multifamily bridge
Silver Spring, MD · Transitional bridge · county component navigated
Bridge-to-perm on complex mid-Atlantic multifamily — business-plan underwriting and a county subordinate component that required a real capital-stack rewrite, not a box check.
Commercial / industrial flex
White Settlement, TX · Permanent · 6.32%
Small-balance commercial permanent — proof the same operator desk that runs flips and rebuilds also executes non-residential CRE when the file fits.
Also browse the full Commercial filter on Closed Deals.
Live pipeline story for operators and brokers sending similar special-purpose files. Market, asset type, and structure only — not a commitment, term sheet, or guarantee this file will fund. Sponsor name and street address withheld until marketing disclosure is cleared (same pattern as our funded case studies).
Owner-occupied car wash
In underwritingCommercial refinance · service expansion · ~$1M commercial private credit
Special-purpose auto-service CRE on a SE Dallas corridor — refinance sized on owner-operator cash flow and going-concern value, with proceeds earmarked for detailing-bay build-out and service expansion. Not a 1–4 unit DSCR product and not a generic Beltline office/retail refi: the underwrite is the operating business, the real estate, and a defined permanent / SBA-track exit.
Live pipeline themes — market, asset type, and structure only. Indicative desk appetite, not commitments, not term sheets, and not a guarantee any specific file will fund. Every scenario is reviewed on asset, sponsor, and exit.
Retail under construction
Construction-completion bridge
Cost-to-complete private credit on a retail build — when bank takeout timing and the remaining vertical spend need a bridge that can actually close.
Select-service hotel (ground-up)
Senior construction bridge
Ground-up hospitality private credit sized to cost-to-complete — land and sponsor equity already in, senior debt for the vertical.
Hospitality portfolio
Portfolio refinance
Multi-asset hospitality refinance — underwritten on portfolio NOI, tenancy, and a defined permanent or sale exit.
Commercial flex / retail development
Ground-up construction bridge
Mountain West commercial flex development — construction bridge with land-debt takeout and a sales / refinance exit plan.
Special-purpose CRE (theater + restaurant)
Commercial refinance
Special-purpose income CRE that does not fit a standard bank box — refinance structured around operating cash flow and sponsor plan.
Small-balance commercial
Cash-out refinance
Selective smaller commercial when the asset and sponsor clear — cash-out against stabilized commercial basis.
Have a file that looks like one of these? Send the package — we will tell you what is executable and what is not.
Warehouse, light industrial, and flex buildings — owner-user or leased.
Anchored and unanchored retail, pad sites, and completion bridges.
Select-service and small hotel private credit when the business plan and takeout are clear.
Mid-market MF (~20+ units) where the underwrite is the rent roll, business plan, and capital stack — not a residential DSCR box.
Car washes, auto-service, medical, entertainment, and other non-residential assets banks often decline.
818 underwrites the asset and the sponsor, then structures private credit to a defined exit. Indicative only — final terms require full underwriting. We do not name capital lending partners in client-facing materials.
Most of the site is the investor lane: 1–4 unit rentals, small multifamily up to about 10 units, DSCR, fix & flip, and short-term residential bridge. This page is commercial private credit — non-residential CRE plus larger transitional multifamily where the underwrite is NOI, tenancy, and capital stack.
Funded proof on this desk already spans roughly $978K commercial flex through multimillion-dollar multifamily and active files into the teens of millions. A hard $5M+ threshold would misrepresent both closed work and what we place. Size is underwriting-dependent, not a marketing floor.
Both. They are larger transitional multifamily executions (33-unit Fort Myers permanent; 26-unit Silver Spring bridge) that live on this commercial private-credit lane as well as the multifamily program page — not 1–10 unit investor products.
Most bridge and acquisition files close in 2–4 weeks when the diligence package is complete. Timelines vary by asset, sponsorship, and structure. Indicative only — not a commitment to lend.
Yes — when the file fits. Owner-occupied auto-service and similar special-purpose CRE are underwritten on operating cash flow, going-concern value, sponsorship, and a defined exit — not a residential DSCR box. Active desk work includes that asset class; every scenario is reviewed individually. Indicative only — not a commitment to lend.
A real answer from the desk — what is executable, the structure range, and the path to close. Indicative only until underwriting.