Self Storage and mini-storage facilities containing a minimum of 50 units.

Loan Types

10 year fixed rate, non-recourse, balloon loans with amortization schedules up to 30 years; 7 year terms considered on a base-by-base basis with a pricing adjustment.

Security

First mortgages secured by Self Storage facilities on fee simple land.

Principal Amount Range

$2 million and higher.

Interest Rate

Pricing based on T-Bill & spread on a deal by deal basis

Debt Service Coverage

Minimum of 1.30 times depending upon property type, age, physical condition, location and market condition.

Loan to Value

Up to 75%.

Prepayment

Defeasance

Secondary Financing

Prohibited; may be permitted under certain limited conditions on a case-by-case basis.

Application Fee

$5,000 non-refundable Inspection/Loan Processing Fee payable to Lender with the Loan Application.