CRE Bridge in Tulsa

Two lanes: industrial and flex space near the Port of Catoosa, and aerospace or manufacturing tied to American Airlines' maintenance base. Manufacturing is 11.0% of metro nonfarm employment, 53,300 of 483,000 jobs as of June 2026, a high share for a metro this size. The Port of Catoosa is a 2,000-acre industrial park at the head of navigation on the McClellan-Kerr Arkansas River system, hosting over 50 companies by the port's own undated count. We found no metro-level CRE vacancy, rent or cap-rate series for Tulsa, so underwrite the tenant and the lease, not a published market number.

Because the deal usually needs to move on a timeline a bank underwriting committee cannot match. A lease-up, a partner buyout, or a repositioning ahead of stabilization is exactly the file a bank passes on until the asset already cash flows. We fund that middle stretch with our own capital, up to $10M and 75% LTV, interest-only, for 24 to 36 months, then refinance you into permanent debt we also place in house. The demand base behind the lease is real: American Airlines has run its largest maintenance base in Tulsa since 1946, 3.3 million square feet on 330 acres, with more than 5,500 employees as of the company's 2020 expansion announcement. Current headcount was not verified, so ask the tenant, not a headline, for today's number.

Roughly 1.5% of fair cash value in Tulsa city, and it swings by school district and by county. Tulsa County assesses real property at 11%, the constitutional floor. The 2025 levy in the Tulsa city / Tulsa school district is 134.01 mills, an effective 1.474% of value with no homestead relief, or $3,685 a year on a $250,000 property. The same value runs $3,099 a year under the Owasso levy code and $3,888 under the Jenks-school code inside Tulsa city, a $789 spread purely on the school district. Cross into Rogers County the ratio stays 11%, but Wagoner runs 11.2% and Creek or Osage run 12%, so an identical building pays about 9% more assessed value in Creek or Osage County before a single mill applies. Oklahoma's 5% annual valuation cap covers investment property, unlike Texas's homestead-only cap, but it resets in the year you buy and again in the year you improve, so it does not shelter a bridge-and-reposition deal in year one. Pull the parcel's levy code from the Tulsa County Assessor and talk to your CPA about the cap.

Judicial by default, with an opt-in power of sale that still runs on a fixed clock. Oklahoma foreclosure goes through district court unless the mortgage carries the statutory bold-language power-of-sale legend, in which case a 35-day cure notice, 30 days of service, and four consecutive weekly publications precede the sale. On the judicial track, a mortgage with appraisement waived cannot get an order of sale for six months after judgment; leave appraisement in and the minimum bid floor is two-thirds of the appraised value instead. A deficiency claim must be filed within 90 days of the sale on either track, with a credit for any fair-market-value excess. None of the homestead election that lets a residential borrower force a judicial process applies to an LLC-owned commercial property, so the timeline runs as written in the note. Talk to us about structuring the note before you sign.

McGirt was a criminal-jurisdiction case, and Oklahoma's courts have declined to extend it to civil or tax matters. McGirt held that most of the city of Tulsa remains "Indian country" for Major Crimes Act purposes. In Stroble v. Oklahoma Tax Commission, the Oklahoma Supreme Court declined to extend that holding to the state's civil or taxing jurisdiction, and the U.S. Supreme Court left that decision standing when it declined to hear the appeal on April 6, 2026. Separately, and predating McGirt by decades, federal law has long required Secretarial approval before an individual Indian owner can mortgage trust or restricted allotted land under 25 U.S.C. 5135, a status question the abstract-and-attorney-opinion title process Oklahoma already requires is built to catch. No sourced authority holds that McGirt changed title, recording, ad valorem taxation, or foreclosure procedure for ordinary fee-simple commercial property in Tulsa, in either direction. Confirm parcel status with your title company and Oklahoma counsel.

Yes, Oklahoma's mortgage registration tax scales with the loan's stated term. It runs 0.02% of principal under two years, rising in steps to 0.10% at five years or more, plus a $10 county treasurer certification fee. A 24-month bridge falls in the 0.04% step and a 36-month bridge in the 0.06% step, against 0.10% on a 30-year permanent loan of the same size. Either the borrower or the lender may pay it, but the mortgage has to state a maximum principal: an instrument with no stated cap is taxed on the county's value of the property instead of the loan amount, which is the wrong side of that trade on a construction-heavy bridge.

At least 25% of value. We lend up to 75% LTV, up to $10 million, interest-only, on a term of 24 to 36 months. On a $2,000,000 Tulsa industrial building that is up to $1,500,000 from us and $500,000 from you (2,000,000 x 75% = 1,500,000). Because we could not locate a metro-level CRE vacancy, rent, or cap-rate series for Tulsa, the tenant and the lease carry the value question here more than any market comp does. Subject to underwriting.

Yes. The program is bridge or cash-out. Same ceilings either way: up to 75% LTV and up to $10 million, interest-only, for 24 to 36 months. Recording the new mortgage costs less than owners expect, because Oklahoma's mortgage registration tax scales with the stated term: a 24-month bridge falls in the 0.04% step against 0.10% on a 30-year loan, plus the $10 treasurer certification fee. State a maximum principal in the instrument or the tax is figured on the property's value instead. Subject to underwriting.

We run credit, but there is no minimum score on this program. A bridge is asset-based: the property, the equity, and the exit carry the file, and credit weighs far less than it would at a bank. A weaker profile usually means lower leverage inside the 75% LTV ceiling rather than a decline, and there is no hard credit pull to start. Spend the saved effort on the note instead: if the property is held in an LLC, none of Oklahoma's residential homestead election applies. Subject to underwriting.