Parking Garage Loan

parking Garage loan

Parking Garage Loan – nationwide

One of our institutional lenders is seeking more parking garage loans and loans secured by parking lots.  The minimum loan amount is $10 million, upper limit well over $100 million.

  • Territory: Major US Metropolitan Cities.
  • Loan terms: 15 to 30-years
  • Amortization: up to 30-years, does not have to be self-amortizing
  • Loan amounts: $10 million – up to $125 million
  • Loan to value up to – 75%
  • Additional Funding Language: Borrower can request additional financing to take advantage of market appreciation and amortization.
    • This language provides flexibility in future years to:
      • Make capital improvements while maintaining distributions,
      • Plans for changes in tax laws, or
      • Allow the ownership to tap equity for other uses.
    • Secondary Financing: In the event Additional Funding described above is insufficient, Borrower has the ability to obtain financing at a higher leverage levels.
    • Flexible Transfers for estate planning and changes in the composition of the ownership
    • Future transfer rights & assumption of Mortgage
    • Flexible Prepayment Options (upon request).
    • Early Rate lock normally 2 todays after Application acceptance
    • Forward commitments available.
    • Competitive rates (as of January 2020 3.25% to 3.90% – depends on loan to value and term). See commercial rates.
    • Relationship Lender: focus on providing service during the entire transaction from origination to closing.

The loan product above is through a large insurance company.  They normally retain all loans and service, this is not a CMBS lender, they will retain the loan in portfolio.  Caffrey & Company LLC has been a leader in commercial real estate finance since April of 2000.  Looking for financing for other investment real estate please consider Caffrey & Company LLC.

Mike Caffrey  Ph: 913.402-7077 or email: