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Eligible
Properties: Existing self- or mini-storage
facilities with a stable occupancy of comparable
properties.
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Loan Sizes:
$1million - $20million
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Programs:
5, 7, 10 and 15 years fixed
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Fixed-rate
loan pricing: Rate based on spread over
comparable-term Treasuries or swap curve; Spread based
on property type, property quality, and coverage ratios
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Maximum
Amortization: 25 to 30 years
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Minimum DSCR:
1.35X
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Occupancy:
85% minimum
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Loan Terms:
3 to 10 years
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Maximum Loan
to Value: 70%
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Recourse:
Non-recourse with standard carve-outs.
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Prepayment:
Declining
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Loan Fees:
.5% - 1%
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Processing
Fees: $1,500 - $15,000
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Third Party
Reports: Appraisal, Phase 1 Environmental.
(Additional reports may be required on larger
transactions.)
If you
require additional information, or would like to speak
to one of our commercial financing specialists, please call
us at 888.488.3807 or
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