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Commercial Real Estate Lenders Washington DC

See below for commercial real estate lenders in Washington, DC and commercial investors that give access to commercial real estate loans, loans for commercial building, and commercial real estate financing as well as advice and content on residential mortgages and commercial mortgages.

Re/Max Allegiance
(703) 971-5555
6084 Franconia RdSuite A
Alexandria, VA
 
Re/Max Presidential
(703) 573-2500
3028 Javier RdSte 100
Fairfax, VA
 
Boston Properties
(202) 585-0833
901 New York Ave., NW
Washington, DC
 
LeDroit Park Development Company, LLC
(202) 370-6136
1921 2nd St., NW
Washington, DC
 
International Trade Center-Ronald Reagan Bldg
(202) 312-1300
1300 Pennsylvania Avenue, NW
Washington, DC
 
Re/Max 2000
(301) 881-1700
11900 Park Lawn Dr
Rockville, MD
 
Re/Max Realty Centre
(301) 774-5900
3300 Olney-Sandy Spring Rd
Olney, MD
 
Hines Interests Limited Partnership
(202) 347-6337
555 13th St., NW
Washington, DC
 
Quadrangle Development Corporation
(202) 393-1999
1001 G St., NW
Washington, DC
 
Cosmopolitan Properties Real Estate
(202) 387-0777
414 Florida Ave, NW
Washington, DC
 

What are lenders looking for in this tough lending market?



What are lenders looking for in this tough lending market?
Fri 09/26/08 10:07:05 am
FINANCING FOR MOBILE HOME PARKS

National commercial real estate lenders are now far more adverse to lending in rural markets.   The typical minimum population size these lenders are willing to go into is 25,000 or more.   Each lender has a specific criteria of what they will allow as far as proximity to a town this size or greater.   For example, the town size would need to be at least 25,000 residents or within 25 miles of a town 100,000 or more.   Another lender allows the property to be within 30 miles of a town 25,000 or more.   The size of the loan and specifics with the property determine which lender would be interested in financing the park.

 

Rural markets limit the number of prospective tenants and in a foreclosure situation, limits the number of investors that would be interested in purchasing the property from the bank.   This pushes these national lenders to lend in markets they feel have a better chance of reducing risk.

 

Some of the better deals on parks can many times be found in rural markets which are now financed either by the seller or a local bank.   Sellers are becoming more and more interested in financing their parks for a buyer where their existing debt on the property makes sense.   The difficulty with local banks is they are most interested in loaning to investors that reside in or relatively close to the town where the park is located.   If the park is near where you live, a local bank can be a viable option.   Also, if you have an existing banking or wealth management relationship with a bank that has a branch in or near the town where the park is located, the bank will consider your loan request.  

 

 

Experience

 

Many mobile home park investors are purchasing their first property of this type.   This does not necessarily rule them out of financing from a national lender.   These lenders are looking for borrowers that either have owned or currently own mobile home parks or other types of commercial income producing properties.   An investor that has owned apartments, self-storage, retail, or office buildings is considered to have the experience these lenders are looking for.   Owning a second home or a few single-family residences is not always considered experienced enough to borrow on a mobile home park.  

 

Where an investor is buying a park outside of their area or state where they reside, these lenders are looking for experience in owning other properties outside of their area or state.   This demonstrates to a lender that the investor understands how to successfully deal with the issues associated with owning properties that are not within a fairly short driving distance.   Lack of experience was not a signi...

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