Bridge -> Agency or straight to Agency?

[Spencer Gray]

Of those who are buying larger multifamily assets how many of you utilize a bridge loan before putting permanent financing in place opposed to going straight into permanent Freddie/Fannie debt (or HUD or any type of permanent financing)?

The Pros/Cons of utilizing bridge financing seem to be:

Pros: Flexibility, easier and more certain to close (depending on the lender).
Cons : More fees / expensive. 

Anything else?

Is it deal size dependent? i.e with a smaller deal ( >75 units) the extra fees might outweigh what the deal can support? 

What is your strategy / thoughts?