Multifamily Bridge Loans in Florida

Florida multifamily bridge — recent closings (May 2026): mostly high-6s to mid-7s (roughly 6.5%–7.9%), floating at about SOFR + 3–4% — or fixed in the mid-6s to low-7s on stronger, lower-leverage deals. $5M–$30M · up to ~70–75% of cost · closings as fast as 2–3 weeks.

The figures above reflect actual, recently closed commercial real estate transactions and are accurate as reported as of May 2026. They are historical market data — not an indication or offer of the rate or terms you will receive; your terms depend on the property, sponsor, market, and lender underwriting and will vary. Northern Ridge Capital arranges commercial real estate financing only (no residential) and is a licensed mortgage broker (CA DRE #02093377), not a lender. See full disclosures.

In most states, a multifamily bridge loan is about the business plan: value-add, lease-up, a timing gap. In Florida, it is increasingly about insurance. Premiums that roughly tripled between 2019 and 2024 pushed operating expenses up faster than rents, which quietly broke the debt-service coverage on deals that were fine when they were underwritten. A property that can no longer clear a permanent lender’s coverage test needs runway, not a fire sale. Northern Ridge Capital places $5M–$30M multifamily bridge debt across Florida by matching that situation to the lender built for it, not blasting it to a database and hoping.

Stop wasting deals on the wrong lenders

Bridge lenders are not interchangeable, and in Florida they diverge hard on one variable: insurance exposure. They price the same deal differently, draw the line on leverage and recourse in different places, and some have quietly capped how much coastal or older-vintage Florida multifamily they will hold at all. We’re a debt brokerage, not a lender, so we work for you: we underwrite the deal first, model the current insurance load into coverage the way a credit committee will, then take it only to the lenders in our network of 700+ who actually want Florida multifamily right now. You get options and leverage instead of one cautious take-it-or-leave-it term sheet.

Typical Florida multifamily bridge structure

Financing something other than multifamily in Florida? See our Florida commercial bridge loans page for retail, industrial, and other property types.

The sizing math behind any of these structures is on apartment building loans, along with the document list lenders expect.

Structure shown is typical, not a quote or commitment; actual terms are set by third-party lenders subject to underwriting. See disclosures.

When a Florida multifamily bridge loan makes sense

Insurance-shock refinance

The most common Florida bridge story right now: a stabilized property whose insurance renewal jumped enough to pull trailing NOI below what a permanent lender needs to refinance. A bridge loan carries it while you re-shop coverage, harden the asset, or push rents to rebuild coverage, then refinance clean.

Value-add & repositioning

Buying or holding an under-performing Florida property you plan to renovate, re-tenant, or reposition? Bridge debt funds the business plan now; you refinance into cheaper permanent debt once the property stabilizes and the numbers support it.

Lease-up

A newer or recently repositioned asset that isn’t stabilized won’t qualify for agency or bank permanent debt yet. A bridge loan carries it through lease-up to a clean takeout.

A maturing loan you can’t refinance yet

If your loan is maturing but the property isn’t ready for permanent financing, a bridge loan prevents a forced sale and gives you runway to refinance on your terms, not the clock’s.

The Florida multifamily market: what lenders are actually pricing

Florida multifamily has two engines pulling in opposite directions. On the demand side, no state income tax and years of heavy in-migration keep renter demand deep across Miami, Tampa, Orlando, and Jacksonville. Miami alone added more than 123,000 residents in 2024. On the cost side sits the insurance crisis: Florida commercial property premiums roughly tripled between 2019 and 2024, and that expense line, not vacancy, is what has been compressing net operating income and reshaping who will lend. The encouraging shift is that pricing is finally stabilizing. After the 2022 legislative reforms took hold, Florida’s statewide average requested insurance rate increase fell from about 21% in 2023 to roughly 0.2% in 2025 (Florida Chamber of Commerce, 2025), and Citizens, the insurer of last resort, filed for its first rate decrease since 2015. That matters for financing because lenders underwrite the go-forward premium, not last year’s. A property that looked uninsurable to a credit committee eighteen months ago can pencil today, if the renewal is in hand and the coverage is real. Underwriters still stress-test DSCR against an insurance shock and lean toward higher coverage minimums on coastal and older-vintage assets, so the gap between the well-positioned deal and the poorly-packaged one is wide. Reaching the lenders comfortable with current Florida dynamics, fast, is the whole game.

What’s different about financing multifamily in Florida

Insurance is the dominant Florida underwriting variable, full stop. Everywhere else, a lender leads with rent growth and DSCR. In Florida, the insurance premium and the wind/hurricane deductible often move the coverage ratio more than a rent bump does, and lenders know it. They will pull the actual policy, check named-storm deductibles, look at the roof and the year built, and size the loan to trailing numbers that already carry the higher premium, not to a pro forma that assumes last year’s cost. For bridge specifically, that cuts two ways. It is the reason many stabilized owners suddenly need transitional debt at all: the coverage broke on the expense line, not the rent roll. And it is the reason a bridge structure works so well here, because interest-only payments and a 12–36 month runway buy time for a re-shopped policy or a settling market to rebuild the coverage a permanent lender demands. The owner who brings a bound insurance quote to the table, not an estimate, gets materially better execution.

What recent Florida closings show on pricing

Across recent Florida multifamily bridge closings (as of May 2026), pricing clustered in the high-6s to mid-7s, with floating deals landing around SOFR plus 3 to 4% and stronger, lower-leverage deals fixed over the 5-year Treasury at roughly 2.3 to 2.65% of spread. A couple of smaller fixed refis ran higher. For context on the exit, Florida multifamily permanent takeout debt was recently in the 6.3 to 7% range. These are closed-deal reads, not offers; your number depends on the asset, leverage, insurance load, and sponsor.

A recent Florida closing

Speed and lender-fit decide bridge outcomes. We placed a $2.5M bridge loan for a Florida owner whose property was heading toward foreclosure. We did it by going straight to a capital source built for time-sensitive, transitional deals rather than a bank that needed 90 days. We closed before the clock ran out. The right lender for your situation usually isn’t the first one, and finding them fast is what we do.

Florida multifamily bridge loans: FAQ

What rate can I get on a Florida multifamily bridge loan?

In observations from recent closings, loans here have run mostly high-6s to mid-7s (roughly 6.5%–7.9%), floating at about SOFR + 3–4% — or fixed in the mid-6s to low-7s on stronger, lower-leverage deals (May 2026). These are actual closed transactions, not an offer — your rate depends on the asset, leverage, and sponsor. Contact us for a live quote.

How much do insurance costs affect my bridge loan?

A lot, and more than on almost any other asset. Florida premiums roughly tripled between 2019 and 2024, and lenders size a bridge loan to trailing NOI that already carries that expense, then stress-test coverage against a further insurance shock. The single best thing you can do is bring a current, bound insurance quote rather than an estimate. We model the real number into coverage before we go to market so there are no surprises at the credit committee.

My permanent loan won’t refinance because insurance killed my DSCR. Can a bridge help?

Yes, that is one of the most common Florida situations we place. A short interest-only bridge gives you 12 to 36 months to re-shop coverage, harden the asset, or push rents until trailing NOI rebuilds the coverage a permanent lender needs. With Florida insurance pricing now stabilizing, that runway is often enough to refinance into cheaper permanent debt.

How quickly can a bridge loan close in Florida?

As fast as 2–3 weeks on a clean, lender-ready file; 15–30 days is more typical. The pace usually comes down to title, appraisal, and how quickly the insurance binder is in hand.

What size deal do you place?

Northern Ridge Capital arranges multifamily bridge debt from $5 million to $30 million, commonly up to about 70–75% of cost, sized down where current insurance costs compress in-place coverage.

Is Northern Ridge Capital a lender?

No. We’re a commercial mortgage broker (CA DRE #02093377). We place your deal with the right lender from a network of 700+ (banks, debt funds, family offices, CMBS, hard money, and private capital) and make them compete. We work on commercial real estate only.

About

Justin Ashcraft is the principal of Northern Ridge Capital, a commercial real estate debt brokerage placing $5M–$30M in multifamily, retail, industrial, and SBA financing nationwide within its licensed footprint, with $600M+ in deal experience across underwriting and brokerage. Licensed in California, DRE #02093377.

Northern Ridge Capital is a licensed commercial mortgage broker (CA DRE #02093377), not a lender, and arranges financing on commercial real estate only (no residential). Rates and figures reflect actual closed transactions as of the date noted and are not an indication or offer of terms. For informational purposes only; not financial, legal, or tax advice. Full disclosures.