CRE Bridge in Midland

The asset types that fit here are tied to the oilfield, not to a typical downtown office or retail cycle. Corporate and crew housing, oilfield service yards, and flex/industrial space are the natural bridge candidates, because Permian operators and service companies need real estate near the field. We do not have published transaction-volume data for this metro, so treat that as an asset-type read rather than a market statistic. What is published is the appraisal roll: Ector County's 2026 certified values carry 6,587 commercial parcels worth $3.55 billion, an average of roughly $539,000 each, against 31 industrial parcels worth $1.68 billion, an average of about $54.2 million each. That is the shape of the Odessa side, thousands of small commercial assets and about thirty very large industrial ones. Diamondback Energy, the largest pure-play independent operator in the Permian, is headquartered in Midland, and the metro's STR and corporate-housing demand is largely crew and contractor lodging that tracks drilling activity rather than tourism.

Because the Permian Basin housing and rent cycle moves fast enough that locking into long-dated debt at the wrong point in the cycle is a real risk. The Permian rig count stood at 263 the week of August 7, 2026, the highest since July 2025, with WTI in the mid-$80s. That is a supportive backdrop today, but the same market saw metro rents fall about 26% peak to trough in the 2020 oil crash and are down 3.6 to 4.0% year over year as of June 2026. A bridge loan lets you get the deal done now, stabilize the asset, and refinance into permanent debt (which we also place in house) once you have a clearer read on where the cycle sits. Subject to underwriting.

Not for this metro, and we would rather say that than make one up. Our research turned up no citable CRE vacancy, rent, or cap-rate figures for Midland-Odessa, so we do not quote any. We underwrite these deals asset by asset, on the specific property's income and the sponsor's plan, rather than against a market cap-rate benchmark that does not exist for this metro. One local caution on the tax line of your pro forma: on the Ector side, 11 accounts carry $1.62 billion of county value lost to abatement in 2026, and large industrial assets there frequently sit under one, so an as-assessed tax figure is not a reliable proxy for what a stabilized owner pays once an abatement rolls off.

Both cities publish a clock, and on alterations they land in roughly the same place. By the City of Midland's own targets, a new commercial building or addition runs about 20 business days for plan review, and a commercial alteration, repair, or accessory structure runs 7 to 10 business days; fees are paid 25% at submission and 75% after approval, and permits issue only to owners or licensed, bonded contractors. Odessa's commercial packet tells applicants to plan on an average of 2 to 3 weeks from the date a completed application is processed to permit issuance on alterations and lease-space finish-outs, with submittals through MyGovernmentOnline and separate applications for fire sprinkler, fire alarm and sign work. Midland is the only one of the two publishing a new-build clock. Two Odessa submittal rules bite on value-add specifically: any building over 5,000 square feet requires Texas PE-sealed structural, mechanical, electrical and plumbing plans even when the tenant space you're touching is smaller, and an asbestos survey has to be submitted before a permit for demolition or alteration of an existing structure will issue. Statewide, construction cost of $50,000 or more triggers TDLR Architectural Barriers registration.

Odessa publishes dollar amounts; Midland publishes the clock but not the fee schedule. The City of Odessa Inspection Division's master permit fee schedule, dated January 16, 2018, prices a commercial permit at $1,000 plus $0.12 per square foot, and additions, remodels and finish-outs at $50 plus $0.10 per square foot. Plan review is 25% of the permit fee, applied at pick-up, and building permit fees are not accepted until the permit is approved and invoiced, so the money moves later in the process than it does in Midland. Around the edges: a certificate of occupancy for a change of use, owner or name is $100, fire sprinkler and fire alarm permits are $0.03 per square foot each, a grading permit is $100, a demolition or moving permit is $100, releasing a stop work order is $100, and reinspections escalate at $50 for the first two, $75 for the third and fourth, and $100 from the fifth on. We could not locate published City of Midland commercial permit fee amounts, only the 25/75 payment split, so price that side with the city before you lock a budget.

Both cities charge them, and the two cities publish them on different bases, so compare carefully. Midland collects impact fees at building permit issuance under Ordinance 9960, with water and wastewater set by meter size citywide: a 2-inch meter is $6,624.48 of water plus $3,353.63 of wastewater, $9,978.11 together. Odessa adopted its fees by Ordinance 2021-27, effective September 9, 2021, and its worksheet publishes both a maximum and the rate it actually collects. Non-residential development in Odessa pays the full maximum on water and wastewater, so the same 2-inch meter runs $4,149.33 of water plus $8,864.00 of wastewater, $13,013.33 together. Midland's cost sits in the water line, Odessa's in the wastewater line. On roadway fees, Odessa's collected rate is $861.73 per service unit in Service Areas 1 and 3 and $533.57 in Service Area 2, where a service unit is one vehicle-mile of afternoon peak-hour travel. A general office building generates 3.45 vehicle-miles per 1,000 square feet, so Odessa collects $2,972.97 per 1,000 square feet in Service Area 1; warehousing at 1.14 vehicle-miles collects $982.37. Midland publishes its roadway table as maximum impact fees and publishes no collection rate against those maximums, so we won't quote a Midland roadway number as what you'll actually pay. Get both cities' current figures in writing for your specific meter size, land use and service area before you underwrite them.

Less than it would at a bank, and there is no minimum score on this program. A bridge loan is asset-based: the file turns on the property, the equity, and the plan for the asset. We do run credit, but weaker credit is usually handled with lower leverage rather than a decline, and there is no hard credit pull to start. You will not be asked for W-2s or pay stubs either. Subject to underwriting.

About a quarter of the value. We go up to 75% LTV, so on an asset at $539,000, the average value of the 6,587 commercial parcels on Ector County's 2026 certified roll, that is up to $404,250 from us and about $134,750 of equity or cash from you (539,000 x 75% = 404,250). The program runs up to $10M, interest-only, on a term of up to 24 to 36 months. Subject to underwriting.

Yes. This program does purchase bridge or cash-out. Same caps either way: up to 75% LTV, up to $10M, interest-only, up to 24 to 36 months. Owners here often use it to free equity for a reposition and then move to permanent debt once the asset is stabilized, which fits a metro where the tax line on a large Ector County asset can shift once an abatement rolls off. Bring us the property's income and the plan for the money. Subject to underwriting.