SELF STORAGE FINANCING
FOR SELF STORAGE PROPERTIES
Our Self Storage Financing Can
Be Used On The Following Types of Properties:
Masonry construction preferred
The Loan Type For Our Self
Storage Financing Is:
Balloon mortgages with a 5, 7, 10-year terms
Amortization:
Up to 30 Years
Preferred
Loan Size:
$2,000,000 or larger
Maximum
Loan:
Amount equal to the lesser of:
- 70% -75%* of the appraised value
- 1.30 - 1.35* debt service coverage
Our Self Storage Financing
Interest Rates:
Determined by market rates at the time of rate lock.
Rates vary by loan-to-value ratio, debt service coverage
and property quality.
Personal
Recourse:
Non-recourse for secondary market loans Full-recourse
for portfolio and private money loans
Pre-payment:
Varies (from none; to yield-maintenance or defeasance)
The Closing Expenses For Our
Self Storage Financing:
Standard transaction costs
Preliminary Submission Package:
- Property description
- Color photographs
- Current rent-roll
- Year-to-date income statement
- Prior years income statement
*Depending on age and condition of property
For more information about our self storage
financing, contact us today.
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