Apartment Loan

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Loans for Apartments:

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 commercial and multifamily properties.  Caffrey & Company LLC has a special focus in providing a Nashville apartment loan.  The most attractive, non-recourse loan 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 $5 million leverage up to 83% to 85% is available) you are at the right place.

Multifamily Loan Underwriting for a Nashville Apartment Loan:

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 a Nashville apartment loan.  Therefore, this will help to achieve the best pricing and loan terms for your commercial real estate investment.  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 know your objective, 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 loan request.

We understand the financing of an apartment complex is a very important component of the 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.

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 $5 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 partment 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 the loan.  Closing costs vary between loan products.  Before you put any funds out 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.

Mulitfamily Market information for Nashville – 1Q2021

Prior to the pandemic Nashville was attracting companies that were searching for alternatives to the coastal states.  Companies that were wishing to tap into the local talent pool.  The population and business sectors were growing steadily with companies such as Amazon, Mitsubishi and ICEE entering the market.  However, during 2020 Nashville struggled to recover employment on par with other Sunbelt metros. This led to their economy struggling as business were less than inclined to reopen their doors.  The Nashville finance sector has remained strong throughout the pandemic as their payrolls have been within 1 percent of pre-pandemic levels and they added 1000 new jobs with Alliance Bernstein’s move to the area.

Although Nashville struggled recuperating employment levels during the pandemic, in 2021 there should be a strong resurgence of employment as many companies in the financial sector are looking to enter the market.  Prior to the pandemic, Nashville witnessed employment climb by 3.4% annually and they are expected to match that pace when the pandemic ends.  With several financial and other services companies entering the market, this is beneficial to the apartment space as it will increase the demand for apartments while increasing the amount people are willing to pay in rent.  In the end of 2020, there was a disconnect between owners and buyers due to the uncertainty of the return of the market.  This resulted in many buyers were hesitant to list properties as the metro had not made a significant recovery from the pandemic.

By the numbers 

In 2021, Nashville expects a 2.7% increase in employment with 27,300 jobs being created.  Construction is expected to increase by 4% over that same time period with 6,400 new units being completed.  Vacancy is expected to increase to 5.8% and effective rent is expected to witness a 3.2% increase to $1285 per month.  Average cap rates remain in the high 5 percent range as many investors are looking to capitalize on the growing metroplex.

In conclusion can read about specific loan products. 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:   Apartment Loan Interest Rates.

Keep Caffrey & Company in mind when searching for a Tennessee lender for apartment loans.  Have a question please call:  Mike Caffrey (913) 402-7077 or email:

On our web site you can read about specific 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:

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