Bridger Unveils Low-Cost CMBS Loan

Bridger Commercial Funding, a San Francisco-based provider of commercial real estate capital, has announced the introduction of SuperSTAR Loan, a commercial mortgage-backed securities product that the company says "virtually eliminates" out-of-pocket transaction costs for borrowers.Under the new program, borrowers can opt to finance transaction costs rather than pay them at the time a loan is originated. "CMBS loans, which are securitized, have historically carried higher transaction costs than loans being originated for portfolio, and we're taking the lead at breaking that tradition," said Peter Grabell, senior vice president at Bridger. "With Bridger's new SuperSTAR Loan, we'll finance nearly all costs -- third-party reports, legal, application fees." He said Bridger negotiates volume-based cost reductions with third-party vendors and passes along the cost savings to borrowers via the new program. Bridger can be found online at http://www.bridgerfunding.com.