Caffrey & Company LLC was founded in April of 2000 by Mike Caffrey. The primary goal of our services is to a help our clients find the best commercial real estate loan that fits their particular needs. You will receive the benefit of 40 plus years of underwriting skills and Caffrey & Company’s access to hundreds of lenders. You are our client, Caffrey & Company LLC works for you to find the best solution to your financial needs. We stay involved every step of the way. So, if you are looking for a long term low interest rate loan for an Apartment Complex, a loan to finance the acquisition of an Office Building or a Retail Shopping Center you are at the right place.
Caffrey & Co. will prepare the loan underwriting package, determine which of the many lenders will have the best loan products and ask those lenders to compete for your business. Mike Caffrey has underwritten thousands of commercial real estate loans from the time he was a young banker as he moved up the ladder to the bank President and CEO, along with the creation of two multi-billion dollar commercial mortgage backed securities operations. Mr. Caffrey was an executive for Midland Loan Services and the other as a founding member of National Realty Funding. You would be hard pressed to find any commercial mortgage broker with more loan underwriting background than Mr. Caffrey. He brings this experience to your loan request.
What We Do
Many of our clients start by asking how much will they have to pay in closing charges? This can vary widely between lenders. Yes, this is an important question to ask. Here is what we do. We listen to the client’s goals and objectives. With this information we complete the loan underwriting package (no charge to the client), present the loan to the lenders that have the loan products that will be the best fit for our client. The lenders provide loan proposals in return (still no out of pocket expenses to the client). We then go over the loan proposals that are the best fit with the client going over the estimated closing costs for each loan. In the end we believe it is part of our duty is to provide enough information and details about the loan(s) so the client can make an informed decision before reaching for the checkbook.
You Can Trust Caffrey & Company LLC
Loans for Apartments are one of the most active property types of loan placement. This includes loans for Mobile Home Parks, Student Housing, Senior Living Centers and loans for Nursing Homes. If you are looking for a non-recourse loan through one of the GSE (Government Sponsored Entities) such as Fannie Mae, Freddie Mac, or HUD/FHA we can help. Did you know not all Freddie Mac and Fannie Mae loans are underwriting the same? They are not underwriting varies between lenders, additionally, pricing for the very same loan product can vary between these lenders. Do you know which lender offers better pricing? Do you know which lender has a more conservation underwriting program which can reduce the requested loan dollars at the last minute? Because we work on hundreds of loans we know what lender would be the best fit for your loan.
We have direct contacts with Wall Street Commercial Mortgage Back Securities (CMBS) firms, also known as a Conduit. Mr. Caffrey has an in depth knowledge of the CMBS loan products and the lenders that specialize in Conduit loans.
Caffrey & Company LLC represent over 50 insurance companies that have excellent low interest rates for commercial real estate loans. Insurance companies invest in commercial real estate loans as an alternative to buying bonds for their investment portfolio.
If you are looking for a loan for you industrial property we have many lenders that would have an interest your loan request. Most loans for this property type are nonrecourse if over $3 million.
Similar to loans on light industrial properties we have lenders actively originating loans for multi-tenanted and single tenant office buildings.
A loan for self-storage can be arranged through Wall Street CMBS (Conduit) lenders, banks treated as owner-occupied and specialty lenders.
Loans for Retail Properties is also very active area of finance. Retail properties can be broken into several different sub-property types:
- Anchored Retail is when there is a big box tenant that is part of the collateral that draws shoppers to the center such as a grocery store.
- Shadow Anchored Shopping Center is where the loan is secured by the in-line shops, the property is adjacent to an anchor tenant such as a grocery store, however, the anchor tenant is not part of the collateral.
- Unanchored Retail Shopping Center Loan is secured by the in-line shop space and there is no anchor on or adjacent to the subject property.
- Single Tenant Retail properties range from a credit tenant such as CVS or Walgreens to a franchisee restaurant. When we have 15-years or longer on leases from investment grade credit tenants we can explore creating a bond structure to maximize loan dollars. The bond structured loans are also known as Credit Lease Loans and CTL. If the tenant’s financial statements are not strong the lenders may require recourse from the borrower investors.
Loans for Self-Storage or loans for Mini-Storage facilities can fall into two buckets, one is an arms-length investment property with more times than not the Self-Storage facility owned and operated by the owner. Not only are loans available through our insurance companies and Wall Street Firms because of the owner occupied component we can bring in our nationwide bank, credit union and specialty lenders focused on this property type.
Loans on hotels also fall into several different categories, flagged and non-flagged (often referred to as boutique). Most of the time the investors operate the property. The non-recourse lenders would like to see the loan amount over $3 million, major flag or a very special situation (unique) to consider a boutique property. The larger the property and higher quality flag allows for the more attractive non-recourse loan terms. For smaller loans and lower end flagged hotels lender require recourse from the investors.