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Apartment Loan in Atlanta:

Since April of 2000 Caffrey & Company LLC has been helping real estate investor’s nationwide find the best loan product for commercial real estate investment properties. Call for great rates for an apartment loan in Atlanta. Caffrey & Company LLC has a special focus in Atlanta apartment loans.  The most attractive, non-recourse loans terms start at $1,000,000 for multifamily properties.  Therefore, if you are looking for low interest rates, a non-recourse loan up to 80% of value (Over $7 million leverage up to 85% is available) you are at the right place.  These specialized apartment loan products are available in all of the Atlanta suburbs including Sandy Springs and Roswell.

Multifamily Loan Underwriting:

Each loan product has unique underwriting requirements.  Above all, how the loan data is presented to the lenders can have a negative or positive impact on pricing and loan proceeds.  We offer this expert loan underwriting for an apartment building loans in Atlanta.  Therefore, this will help to achieve the best pricing and loan terms for your apartment building or commercial real estate investment.

Free Quote for a Multifamily loans:

We encourage our clients to submit key property level data for a free loan underwriting review.  This initial loan underwriting normally takes less than one business day for us to respond with several apartment loan options for you to consider.  Here is a short list of property level data that would aid in providing a loan quote:

Required Underwriting information needed:

  • Last two years and Year-To-Date detailed Profit and Loss statements (in addition a trailing 12-month P&L is best if available) on the apartment complex.
  • Current Rent Roll
  • Brief narrative description of the property.
  • If available a few electronic photos. Or a copy of the real estate agent’s marketing package.
  • What is the purpose of the loan? Acquisition, Refinance, cash out, re-position the property (renovations).

Next we will need to understand your investment objectives.  How much do you wish to borrower on the apartment complex?  Is this a long-term investment or short-term investment?  In other words outline your apartment loan in Atlanta loan request.

We understand the financing of an apartment complex is a very important component of your investment.  Therefore, we encourage our client to send us details on the property before finalizing the purchase and sale contract for an indication of the type of loan that might be available to a particular property.  We can review and provide some up front loan options.

Fixed Rate Loan Terms are Available for Multifamily Properties:

Loan terms are available from 3-years up to 35-years (40-years for new construction on loans over $7 million).  The Apartment buildings can be Garden Style, High Rise, Age Restricted, Student Housing, Section 8 Tenants and subsidize properties.  There must be at least 5-units.  If you have several buildings all with five or more apartment units that you wish to place under one loan no problem, the buildings should be within 3 to 5-miles from the other properties for best loan terms.

How long will it take to close the Loan?

The closing process normally takes between 45 and 55 days to close an apartment building loan in Atlanta.  Closing costs vary between loan products.  Before you reach for your checkbook we will provide a detailed estimate of the anticipated closing costs.   At this stage you will know the loan product, the loan terms, and the anticipated closing costs to allow you to make an informed decision before moving forward.

Atlanta Multifamily Market Up Date: 1Q2021 Atlanta Multifamily Market Report

Prominent job growth

Atlanta exists as a distribution center with the trade, transportation, and utilities sectors already recovered from the pandemic.  This should increase job growth in the area as tech firms as beginning to enter the market, firms such as Microsoft and Google have plans to open offices in the city.  The retail and distribution industries are hiring again which should translate into growth in other industries in the metroplex.  These factors leave good room for white collar jobs in the area which fell a 3.5% growth nationally last year.

Market Opportunities

Due to Atlanta’s low density sprawl, many renters choose to live in the outskirts of the city where renters see lower rents for comparatively larger units.  This increased during the past year as renters had less of a need to be closer to the downtown offices.  However with offices reopening and major tech firms moving into the area there should be a growth in the downtown Class A apartments.

Market by the Numbers 

In 2021, there looks to be a 3.1% rise in employment with 86,500 jobs set to be created.  Construction is expected to rise by 2.2 percent with 11,500 units set to be completed. Vacancy is expected to be around 4.2 percent in 2021, it decreased 0.6% in 2020 and it is expected to decrease another 0.3%.  Effective rent for the metroplex is $1,352 which is a 3.8% rise from 2020.  The average cap rate for the city dipped to 5.5 percent which enabled investors to purchase Class A properties for around 4 percent and Class C properties for around 6 percent.

In conclusion you find details on several loan products by following these links: Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products.  Want more details and sample interest rates for apartment check out Interest Rates for Apartment Loans also on our web site:   Multifamily Loan Interest Rates.

Have a question please call:  Mike Caffrey (913) 402-7077 or email: Mike@CaffreyLoans.com

On our web site you can read about specific loan products: www.caffreyloans.com/loan-products, offered by Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products. Want more details on sample interest rates for apartment check out Interest Rates for Apartment Loans also on our web site: www.caffreyloans.com/apartment-loans.

Have a question please contact
Mike Caffrey
Telephone: (913) 402-7077