Parking Loans | Parking Garage Financing

Parking garage and parking lot financing options. We offer commercial loans for the construction, refinance or acquisition of parking lots and garages. Basic terms as follows:

MINIMUM LOAN: $5,000,000.00

LOAN TERM: 5 Years

AMORTIZATION: Up to 20 Years or Interest Only

MINIMUM DSCR: 1.20x to 1.25x

MAXIMUM LTV: Case by case basis

INTEREST RATE: Fixed or adjustable rate options on an actual 360 basis

ELIGIBLE PROPERTY TYPES: Parking Garages - Parking Lots

TAX AND INSURANCE ESCROWS: Monthly Deposits Required

REPLACEMENT RESERVES: Monthly Deposits Required

RECOURSE: Case by Case. In Most Cases Non-Recourse With Standard Exceptions For Fraud and Misrepresentation

REQUIRED REPORTS: MAI Appraisal, Property Condition Assessment, Phase I. Others if applicable

PREPAYMENT: No prepayment through Year 4. Defeasance thereafter

ASSUMABLE: N/A

SUBORDINATE FINANCING: N/A

RATE LOCK: N/A

ORIGINATION FEE: PAR to 3% + 1-4 Points. (In Addition to Closing Costs)

IMPORTANT: This is not an offer to make a loan, all requests are subject to normal due-diligence and final approval under conditions that are standard for the specific transaction. The above terms and conditions are subject to change without prior notice and other terms and conditions apply.