Scottsdale transitional assets show up as Airpark industrial with a short lease roll, a retail repositioning, or an apartment that is not yet a permanent agency or life-company file. Bridge is sourced from private investors. The origination desk is the Scottsdale office. The capital is not Capital Market Funds' balance sheet.
Nothing on the transactions list is a Scottsdale bridge. The $14,000,000 office bridge is Chandler, Price Road. The Airpark flex loan is a 2019 life-company permanent refinance. Pima Center is a 2022 acquisition. Those three facts are the reason this page does not display a tombstone.
What a bridge file is, and what it is not
Layer 1
The business plan
Lease-up, a renovation, or a closing date. The plan has an end. Bridge is not a permanent loan with a shorter term written on it.
Layer 2
The takeout
Name the permanent source that is supposed to follow: agency, HUD, life company, bank, or CMBS. If none of those can ever fit, we say so.
Layer 3
Whose capital
Bridge and private credit are sourced from private investors. Capital Market Funds does not describe that as lending its own paper. It is not consumer hard money, and it is not a construction shop.
Bridge is not a second way to describe Airpark
If the building is stabilized flex in the Airpark and the job is a long-term refinance, use Scottsdale permanent. Calling that loan bridge because the sponsor wants a faster close would misstate the card we already published.
A new Airpark file with vacancy, a tenant move-out, or a purchase that cannot wait can be bridge. That is a current rent roll, not a 2019 refinance.
Takeout after a Scottsdale bridge
Name the next source. Life company and bank are the usual commercial takeouts. Agency is only for multifamily that will qualify, and we are not a DUS lender. CMBS is the stretch. We will not leave the takeout unnamed and call the file complete.
Statewide context is Arizona bridge. Chandler's published bridge stays on its own page.
How Scottsdale bridge is sourced
| Source | When it fits |
|---|---|
| Arizona bridge | Private bridge statewide. The published dollar amount is Chandler, not Scottsdale. |
| Scottsdale permanent | The Airpark life-company refinance, which is not bridge. |
| Life company | A typical takeout for stabilized Scottsdale commercial property. |
| Scottsdale industrial | Airpark flex and industrial, including when the lease roll is not permanent yet. |