Florida apartment owners have spent the last few years absorbing a wave of new buildings, a reset in insurance, and a whole new set of rules for older properties. We review apartment, multifamily, and commercial loans across the state, with interest-only and cash out options for owners who want their building working harder.
Apartment and commercial loans from $1 million to $30 million+
For most of the last decade, the moving trucks only went one direction. People came for the weather, the jobs, and a state with no personal income tax, and developers followed them with more apartments than Florida had ever seen at once. Orlando, Tampa, and the Southwest Florida coast all opened new buildings faster than renters could fill them, and free rent became part of almost every lease-up.
Now the state is working its way back. Orlando's construction pipeline has shrunk by roughly two thirds from its 2023 peak, Jacksonville has been leading the state in rent growth, and Miami has held steadier than most. Not every market is there yet, and parts of Tampa and the Southwest Florida coast are still working through new supply. For an owner, that split is the whole story. The buildings that held their tenants through the toughest stretch are the ones in the strongest position to refinance, pull cash out, or move to interest-only payments while the rest of the market catches up.
Capituro reviews loan requests for Florida apartment buildings, multifamily portfolios, and commercial property, along with high-value vacation rentals on the coast. We are based in Florida, and we spend our time on the property and on what the owner wants the loan to do.
Capituro helps investors close business-purpose financing on multifamily and commercial property. Programs are not available for owner-occupied residential property. Terms and availability vary by deal and can change without notice.
None of these are deal killers. They are the Florida details we would rather talk through at the start than discover halfway in.
In Florida, the insurance bill can move the numbers as much as the rent does. The market has steadied since the state's 2022 reforms, but wind coverage, deductibles, and roof age still vary a lot from building to building. A current quote, along with any wind mitigation report, keeps everyone working from the same expense line.
A building in a market that just absorbed a lot of new supply can show strong asking rents and still be giving away a few weeks free on every new lease. The rent that counts is the rent tenants actually pay after concessions, so that is the number we start with.
Since the Surfside collapse, Florida condominium buildings three stories and taller have had to pass milestone structural inspections and fully fund reserves for their major structural components. Those rules are written for condominium associations, not rental apartments, but they have reshaped how older coastal buildings are maintained and valued. If your property sits inside a condominium, or you are thinking about buying one out, we want to know early.
Have a Florida building in mind?
Send the numbersA Florida apartment building can need different debt at different points in its life. A bridge loan can carry a property through lease-up, a renovation, or a hurricane repair, and a long-term apartment loan can take over once it is stabilized. When that is the plan, we look at both steps together from the start.
Interest-only payments for up to the full term on a stabilized apartment building, often with more cash out than an amortizing loan allows.
Read program detailsLong-term financing for Florida apartment buildings from 5 units to 300+, from a garden community outside Orlando to a mid-rise in Fort Lauderdale.
Read program detailsFor owners who want to put the equity in a stabilized apartment or commercial building to work, up to 75% LTV on a refinance.
Read program detailsFor retail, office, warehouse, self storage, mixed use, daycare, automotive, light industrial, and assisted living property where the leases and occupancy support a purchase, refinance, or cash out.
Read program detailsFor a building in transition, whether that means lease-up, renovation, storm repairs, tenant rollover, or a purchase that needs to close before long-term financing makes sense.
Read program detailsFor high-value homes on the Gulf and Atlantic coasts, from the Panhandle beaches to the Keys, where the nightly rental income supports the loan and the state and local licenses are in place.
Read program detailsWe also review 1 to 4 unit rentals across Florida.
See DSCR loansMiami, Fort Lauderdale, and Palm Beach run on international money, finance, and a renter base that keeps arriving from everywhere. South Florida held steadier than most of the state through the building wave, and the conversation here is usually about older buildings with deep tenant rolls and owners who want to put years of appreciation to work.
Tampa and St. Petersburg drew some of the state's heaviest new construction, and parts of the metro are still working through it. The upside is a growing base of jobs and renters on both sides of the bay, and well-run buildings that held occupancy are the ones refinancing now.
Orlando is more than theme parks, but tourism, hospitality, and a deep pool of service and healthcare jobs keep renters coming. After a big supply wave, new construction has dropped off sharply, and occupancy in the established neighborhoods has started to firm up while the newest lease-ups finish filling.
Jacksonville is the biggest city in the state by land area, with a port, a large Navy presence, and a growing logistics and finance base. It slowed its own building faster than most of Florida, and that has made it one of the stronger rent stories in the state lately.
We review deals across all of Florida, including cities not listed here.
The owner has held it for years, the tenants have stayed, and the current loan is amortizing away cash flow the owner would rather have. An interest-only loan with cash out can change how the building pays, without selling it.
The building is close to stabilized, but free rent is still showing up in the rent roll. Sometimes the right answer is a long-term loan today, and sometimes it is a bridge loan now and a long-term loan once the concessions are gone. We would rather lay out both than force one.
A large home on the Gulf or the Atlantic, booked by the week through the winter and summer seasons, with real income behind it. These properties deserve a loan built around how they actually earn, with the monthly booking history telling the story.
You do not need a polished package to start. A few lines through the contact form with the address, the unit count, and what you want the loan to do is enough for us to tell you whether it is worth a real conversation. If you have a rent roll and operating statement handy, send those too.
Yes. We review apartment and multifamily loans across the state, including Miami, Fort Lauderdale, Palm Beach, Tampa, St. Petersburg, Orlando, Jacksonville, and Southwest Florida. We are based in Florida, and if the building is here, we are happy to look at it.
Most of the apartment loans we review in Florida run from $1 million to $30 million and up, on buildings from 5 units to more than 300.
Yes. We review retail, office, warehouse, self storage, mixed use, daycare, automotive, light industrial, and assisted living property across Florida for purchases, refinances, and cash out.
Yes. Interest-only payments for up to the full term are available on stabilized apartment buildings, and they are often paired with a cash out refinance so the owner keeps more of the building's monthly income.
Our programs go up to 75% LTV on a refinance. The building's income still has to support the new payment, including a realistic insurance bill, so the real answer depends on the rent roll, the expenses, and what the building is worth today.
It is one of the biggest expense lines on most Florida buildings, so it matters. A current quote with the actual wind deductible, along with the roof age and any wind mitigation report, gives us the clearest picture from the start.
Often, yes. We start with the rent tenants are actually paying after concessions. If the building is close to stabilized, a long-term loan may work today. If not, a bridge loan can carry it until the free rent burns off.
Yes, including high-value homes on the Gulf and Atlantic coasts. Florida requires a state vacation rental license, local rules vary by city and county, and monthly booking history tells the story better than an annual total. We also review 1 to 4 unit long-term rentals statewide.
Send the address, the unit count, and what you want the loan to accomplish. We will take a look and tell you how we would approach it.
Send the numbers