100 Unit Apartment complex financing

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Ian Stuart
Lender · Seattle, WA · Member since 2017 · 118 posts · 161 votes
1y

Have you ever received conventional multifamily quotes from Freddie Mac & Fannie Mae before? If not - I highly recommend. 

For context, Freddie & Fannie offer 5-30 year term (fixed & floating rate), partial-full term IO, high leverage (80% LTV; 1.25x DCR; 30-year amortization), non-recourse financing priced in the high 5.00%'s - low 6.00%'s. With a rate buydown, you'll see rates in the low-mid 5.00%'s. The beauty of agency financing is that you can secure 2nd lien supplemental financing after 12 months, and the loans are fully assumable in the event that you decide to sell down the road.

If you're looking for a bridge loan execution (as opposed to permanent financing), I recommend hiring a broker to shop the bridge debt to life companies, debt funds, banks, and credit unions. 

For context - Berkadia is the #1 Freddie Mac & #2 Fannie Mae multifamily lender in the United States (we're the largest agency lender in the country). We closed ~$13.5 billion dollars in loan volume with the agencies last year. We're also a correspondent lender for 50+ life companies, and broker multifamily debt to debt funds, CMBS, banks, and credit unions. Send me a DM if you're interested in quoting a few scenarios.

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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    Sure, lots of PMLs and other companies can.
    Can you be a little more vague in your "ask"?
    Can you present a business case?

    0Reply
    • Charles Becoat
      OP
      Investor · Chicago, IL · Member since 2017 · 33 posts · 10 votes
      1y

      @Mike Grudzien Thanks and yes I'm waiting for some additional documentation and I'll follow up. 

      0Reply
  • Wendy PattonBusiness Member
    Real Estate Consultant · Clarkston, MI · Member since 2009 · 859 posts · 349 votes
    1y

    @Charles Becoat for 100 units likely a conventional multi-family lender would be the best.  Do you have it under contract?  Feel free to reach out to me as i run the Michigan Real Estate Investor group and Feb and March are all about investing in Detroit.  I am sure i can hook you up with someone if you have it locked up.  message me

    Michigan Real Estate Investors533 Reviews
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    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Charles Becoat how is it performing?

    How much work does it need?

    How much are you planning to put down?

    [email protected]248-209-6824
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    1Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    1y

    @Charles Becoat - financing is available for any type of Multifamily asset.  Question is, does the deal pencil, do you qualify for the financing, do you have experience owning-operating a multifamily asset, do you have the required net worth and liquidity, etc....

    1Reply
    • Charles Becoat
      OP
      Investor · Chicago, IL · Member since 2017 · 33 posts · 10 votes
      1y

      @Simmy Ahluwalia Thanks! I'm waiting on some additional documentation and I'll let you as soon as I get them. 

      0Reply
  • Ian Stuart
    Lender · Seattle, WA · Member since 2017 · 118 posts · 161 votes
    1y

    Have you ever received conventional multifamily quotes from Freddie Mac & Fannie Mae before? If not - I highly recommend. 

    For context, Freddie & Fannie offer 5-30 year term (fixed & floating rate), partial-full term IO, high leverage (80% LTV; 1.25x DCR; 30-year amortization), non-recourse financing priced in the high 5.00%'s - low 6.00%'s. With a rate buydown, you'll see rates in the low-mid 5.00%'s. The beauty of agency financing is that you can secure 2nd lien supplemental financing after 12 months, and the loans are fully assumable in the event that you decide to sell down the road.

    If you're looking for a bridge loan execution (as opposed to permanent financing), I recommend hiring a broker to shop the bridge debt to life companies, debt funds, banks, and credit unions. 

    For context - Berkadia is the #1 Freddie Mac & #2 Fannie Mae multifamily lender in the United States (we're the largest agency lender in the country). We closed ~$13.5 billion dollars in loan volume with the agencies last year. We're also a correspondent lender for 50+ life companies, and broker multifamily debt to debt funds, CMBS, banks, and credit unions. Send me a DM if you're interested in quoting a few scenarios.

    2Reply
    • Charles Becoat
      OP
      Investor · Chicago, IL · Member since 2017 · 33 posts · 10 votes
      1y

      @Ian Stuart Thanks for the information Ian. I'll send you a message shortly. 

      0Reply
  • Steven Swanson
    Lender · Member since 2024 · 40 posts · 4 votes
    1y
    Quote from @Charles Becoat:

    Can anyone finance an 100 unit apartment complex deal in Detroit? 


     Happy to connect and take a look at you're options

    1Reply
  • Judah Zuckerman
    Member since 2025 · 56 posts · 4 votes
    1y

    Hi charles, Im a Nationwide Direct Lender with Sterling Capital

    we fund small bridge loans 1-10m up to 80%ltc

    please reach out if this could work for you.

    I would live to take a look at this deal for you.

    0Reply
  • Givo Aghasi
    Lender · Los Angeles, CA · Member since 2022 · 238 posts · 73 votes
    1y

    @Charles Becoat This is something we might be able to help with. Lets connect! 

    1Reply
    • Charles Becoat
      OP
      Investor · Chicago, IL · Member since 2017 · 33 posts · 10 votes
      1y

      @Givo Aghasi thanks Givo ! I'll email you we spoke a while ago in NYC 

      1Reply
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