Conduit Self Storage Loans

• 30-year amortization
• Up to 10-yr fixed rates
• Up to 75% leverage
• No restrictions on cash out refinances
• Non-recourse

Self storage and mini-storage properties that are stabilized and are located in high traffic metropolitan areas. Construction should be concrete block, brick, or wood framed. Preference is shown towards single story facilities unless a drive-up access is provided.

Metal building self storage facilities accepted on a case-by-case basis with limits on both term and amortization.

Mezzanine and bridge self storage loans are available on a case-by-case basis for properties in the "lease-up" phase or that require substantial rehabilitation.

Bankruptcy-Remote SPE (special purpose entity). Entities may be corporations, limited liability companies or limited partnerships.

$3 million

Interest rates for CMBS retail property loans are based on an index (5 or 10-year Swap) plus a spread. Where the interest rate falls in the spread range depends on:

• Loan size
• Property (e.g. quality, location, tenant strength, lease terms)
• LTV, DSCR and debt yield

View indicative interest rates for CMBS loans and conduit loan interest rates

Self storage and min-storage properties located in mid to large market sectors and small market sectors with strong sponsorship.

Up to 75%

1.30-1.40 minimum

5 and 10-year fixed rate terms

25-30-year amortizations

8%-10%

Defeasance or yield maintenance

Non-recourse subject to standard carveouts

At commitment

85% stabilized properties

Taxes, insurance, and replacements reserves

Include the following in your request for a conduit CMBS self storage facility loan quote:

• Property description
• Representative color photographs or property website
• Current rent roll
• YTD and two prior years income and expense statements
• 12 month trailing income and expense statement
• 12 month operating budget
• Capital improvements summary
• Sponsor resume outlining experience owning and operating commercial real estate
• Management company bio