LOS ANGELES — Arixa Capital has introduced a new Mini Perm financing solution aimed at builders, developers, and residential operators seeking greater flexibility after construction completion.
Announced Tuesday, the program is designed for completed or stabilized residential projects, allowing sponsors to refinance construction loans into short-term, interest-only bridge financing. The Mini Perm structure carries no prepayment penalty and no minimum interest requirement, giving borrowers flexibility in timing their permanent financing or property sale.
The launch comes amid a higher interest-rate environment that has created uncertainty around optimal refinancing windows and exit timing.
“Having flexibility between construction completion and the re-financing into the permanent market is incredibly important to our clients,” said Managing Director Seth Davis. “We built our Mini Perm solutions to preserve optionality and provide an efficient exit path when the timing is right.”
Arixa said the product is structured to lower carry costs and allow sponsors to stabilize operations, improve sales velocity, or wait for more favorable market conditions before securing permanent financing.
Supporting a Growing Construction Lending Platform
The Mini Perm offering builds on Arixa’s expanding construction lending business. Since its founding, the firm has originated more than 3,000 loans, financing the acquisition, construction, or renovation of more than 14,000 housing units nationwide.
In 2025, the company reported a record year, funding more than $2 billion in loans. Since inception, Arixa has completed over $7 billion in originations and currently manages a servicing portfolio exceeding $2 billion.
“After a record 2025, our Mini Perm is a natural extension of Arixa’s large and growing construction lending business,” said Managing Director Greg Hebner. “We want to support our clients at project completion, when they often need additional flexibility. Our capital helps bridge the transition, allowing them to stabilize operations, improve sales velocity, or wait for a better takeout window for a permanent loan.”
Program Details
The Mini Perm financing program is available for:
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Stabilized rental assets, including apartments and build-to-rent communities
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Completed for-sale residential inventory, such as condominiums, subdivisions, townhome complexes, and build-to-sell communities
Key terms include:
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Loan sizes ranging from $1.5 million to $10 million
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Terms of up to 24 months, with extension options available
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First-lien position
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Maximum leverage of less than 70% loan-to-value (LTV) for rental projects and less than 75% LTV for for-sale projects
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Minimum 1.10x debt service coverage ratio (DSCR) at closing for rental properties
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Interest-only payments, with no prepayment penalty and no minimum interest requirement
By offering a short-term bridge between construction completion and permanent financing, Arixa aims to provide sponsors with greater control over exit timing in a market where interest rates and capital availability remain in flux.
The new product underscores continued demand for alternative real estate financing solutions, particularly as developers navigate shifting capital markets conditions in 2026.
