Self Storage

Location:
Nationwide

Type:
Acquisitions, refinances, and new construction self storage facilities

Amortization:
15, 20, 25, and 30 years

Term:
Fixed Rate 1,3,5,7 and 10 years

Loan-to-Value
70-90% LTV

Debt Service:
DSCR is 1.11% - 1.25%

Property Types:
Self storage and climate-controlled storage

Eligible Properties:

Existing self storage facilities
No properties with deferred maintenance in excess of 5% of value
Indoor Self storage
Climate-controlled self storage
Permanent, construction or substantial rehabilitation

Loan Programs:
Highly competitive with a wide array of rate plans including:

1,3, 5, 7, 10, 15, 25, and 30 year fixed interest rate terms
3, 5, and 10 year interest only loan structures are available

Prepayment
Pre-payment penalties are common when searching for the best and lowest fixed rate. Loan choices can range from fixed declining with yield maintenance, loan defeasance, declining 5, 4, 3, 2, 1 or 3, 2, 1 options – or no prepay penalty with higher rate and fee options are available.

Personal Guarantee:
Non-Recourse and Recourse options

Minimum DCR:
1.11 -1.25

Loan-to-Value

90% for construction
90% for purchase or refinance
70% for cash-out refinance

Rate Lock:
60-day lock-in is available. Advanced deposit is required and credited towards loan closing.