Self Storage Loans
Whether you are looking for self storage loans to purchase, refinance, renovate, or construct a new facility, we will have exceptional rates and terms available for your project. We operate on a nationwide basis and provide financing for transaction sizes starting at $1 million. There are many competitive loan options available outside of local bank lenders and we provide on demand access to those capital sources, regardless of the reason that you are looking for financing. The advantage our borrowers get from us is knowing which lenders are offering the most competitive terms for their deal and getting quick and reliable access to those lenders.
Types of Self Storage Loans We Offer
For any self storage facility, we can offer a variety of terms and structures, below is a general outline of our capabilities;
- LTV up to 75% for a 1st mortgage, 85% with mezz/pref
- Up to 30 year amortization, interest only available
- Up to 10 year fixed rate, (longer at lower leverage)
- Non-recourse and recourse options
- Rates, exceptional and market competitive
Below are the loan types that we are able to offer;
- SBA & USDA
- Fixed and floating rate
- Ground up construction
Our borrowers for self storage facility financing are typically middle to small market owners and operators or one or many facilities. We can work with any type of facility including; Drive-up, climate controlled, business storage, student, military, 24 hour, & vehicle, etc. To discuss Any self storage loans or construction financing, call us directly at 866-647-1650 or fill out the contact form to the right.
Examples of Self Storage Loans
Example 1) A borrower came to us wanted to refinance and cash out of two self storage facilities located in Washington and Portland. He owned these properties with 2 other partners, none of which wanted to guarantee the loans and they were looking for flexibility in prepayment and long term fixed rates. We were able to structure a 70% loan to value $4 million & $3 million deal for the properties with a bank partner, that gave them flexible prepayment, a low 7 year fixed rate, 30 year amortization, and non recourse.
Example 2) A borrower was wanting to acquire and turn around a self storage facility in NC that had been under performing due to mismanagement by the current owner. He wanted a non recourse short term deal that would get him acquisition dollars and rehab money. We were able to structure a $5 million bridge loan that was non-recourse, 70% of stabilized value, interest only with a very competitive rate, and included rehab money for the borrower to execute his plan and turn the property around.
Example 3) A borrower was looking to cash out refinance a self storage facility located in Florida. The borrower was looking for max leverage, non recourse, and max cash flow. We were able to structure a $7 million CMBS loan that got the borrower 75% loan to current value, over $3 million cash out proceeds in his pocket, a very competitive 10 year fixed rate, and 30 year amortization. This deal maximized both his cash proceeds and forward cash flow, all while keeping the deal non recourse.