Apartment Loans in Baton Rouge:

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 apartment loans in Baton Rouge. Caffrey & Company LLC has a special focus in Baton Rouge 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 Baton Rouge as well as suburbs including Zachary, Brusly, Central, St. Francisville and Gonzales.

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 Baton Rouge.  Therefore, this will help to achieve the best pricing and loan terms for your multifamily building or commercial real estate investment.

Free Loan Quote for Commercial Real Estate Loans in Baton Rouge:

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 Baton Rouge 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 for a multifamily loan.

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 a Multifamily loan in Baton Rouge.  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.

Baton Rouge Multifamilu Market Data:

After the pandemic deeply affected the Baton Rouge economy last year, the recovering employment benefitted the apartment market. Serving as the anchor of the local economy, government payrolls expanded 0.5% in the last year and was the only sector to post gains in that time. These additions contributed to total employment reached 94.7% of pre-pandemic levels by March 2021. The rebound in hiring was a factor in apartment demand soaring with nearly 1,250 net units absorbed across Greater Baton Rouge in the last four quarters. Leasing activity was positive in every submarket, though additions in the North Baton Rouge submarket facilitated a metro-leading 473 net units absorbed in the last year. While some renters targeted the new inventory, the relative affordability of the North Baton Rouge submarket underpinned demand across all classes of apartment stock. At an average of $799 in the first quarter of 2021, the submarket’s monthly effective rent fell well below the $972 metro average. Great Baton Rouge effective rent elevated 1.5% year over year as the apartment occupancy rate increased 200 basis points to 93.1%. The rise in occupancy followed last year’s rate hitting the lowest level since Great Recession.

Conclusion:

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.

Keep Caffrey & Company in mind when searching for a Louisiana lender for apartment loans.

Have a question please call:  Mike Caffrey (913) 402-7077 or email: [email protected]

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
[email protected]
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