Finance
In New York, a 'bridge loan' in commercial real estate is typically used for:
ALong-term permanent financing
BShort-term financing to bridge the gap between acquiring a property and obtaining permanent financing or completing a stabilization plan✓ Correct
CGovernment-assisted affordable housing
DRefinancing only
Explanation
Bridge loans are short-term financing solutions used when a borrower needs to act quickly or when permanent financing is not yet available. They are common for acquisitions, renovations, or lease-up periods in transitional properties.
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