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  1. #1
    JRMcCoy is offline Junior Member
    Join Date
    May 2009
    Posts
    5

    Default Any Guidance on Companies doing Permanent Financing?

    I am looking to do a take out of my construction loan and refinance my facility (+/- 70% stabilized) to permanent financing. I know that SSA maintains a vendor list of lenders which I am perusing, but I was wondering if anyone has had any recent (within the past year or so) experience with a particular lender that does really well in financing self storage properties. The subject property is in Georgia (West Metro Atlanta). Thanks for any input.

  2. #2
    jcarlisle's Avatar
    jcarlisle is offline CM Emeritus, Reg. Member
    Join Date
    Feb 2009
    Location
    Chicago, IL
    Posts
    2,345

    Default

    Hi JR, welcome to the forum!

    I personally don't have an answer for you immediately, but I'm looking for someone who does. Hang tight and keep checking back.
    John Carlisle
    Community Manager Emeritus
    Still a Big Fan of Self-Storage!
    www.chicagoprowriter.com

  3. #3
    teri_l's Avatar
    teri_l is offline Administrator
    Join Date
    Dec 2007
    Location
    Phoenix, AZ
    Posts
    275

    Default

    Hey there ... A few resources you might find useful:

    The finance section of the ISS buyer's guide:
    http://www.insideselfstorage.com/gui...h.asp?cat=4585

    The ISS resource directory:
    http://www.insideselfstorage.com/resourcedirectory.html

    And several articles we've published by top finance experts in our field (their contact information can be found at the end of each article):

    How Will Self-Storage Owners Survive the Credit Crisis?
    http://www.insideselfstorage.com/art...reakpoint.html

    Today's Self-Storage Refinancing Playbook
    [http://www.insideselfstorage.com/art...playbook.html]

    Is Your Self-Storage Loan Overleveraged?
    [http://www.insideselfstorage.com/art...everaged.html]

    How to Choose a Self-Storage Lender in a Lender’s Market
    [http://www.insideselfstorage.com/art...e-market.html]
    Teri L. Lanza
    Editorial Director
    Inside Self-Storage
    www.insideselfstorage.com

  4. #4
    selfstorage is offline Member
    Join Date
    Jan 2008
    Location
    Sun Lakes, AZ
    Posts
    74

    Default Financing

    JR: I also try to keep up-to-date on the finance markets. Contact me for a weekly update. Here is a link for this week's update, provided by Brad Cox at Thomas Wood & Company:

    Weekly Market Commentary - As of June 15, 2009

    Multifamily Faces Default 'Wave' Warnings, article by Michael Murray [click to read full story]

    Market Snapshot—Monday’s closes (6-8-09) are in parentheses

    Treasury Yields Corporate Spreads Other Key Indicators
    2-Yr 1.27% (1.30%) AAA 1.16% (1.30%) Prime Rate 3.25%
    5-Yr 2.78% (2.83%) AA 1.80% (1.86%) Fed Reserve Target Rate 0.25%
    10-Yr 3.79% (3.83%) A 2.87% (3.03%) Fed Discount Rate 0.50%
    DIJA 8799 (8763)
    LIBOR NASDAQ 1858 (1849)
    1- Mo. LIBOR 0.31% (0.31%) Crude Oil $72 ($68) S&P 500 946 (940)
    3-Mo. LIBOR .75% (.75%) Gold $939 ($956) DJ REIT Index 111 (113)
    Last edited by teri_l; 6th July 2009 at 05:16 PM. Reason: Provide links to resources, not full text; vendor promotion not allowed
    RK Kliebenstein
    Vice President of Business Development
    Metro Storage LLC
    847 387-2943
    rk@metrostorage.com
    E: rk@metrostorage.com
    [SIGPIC][/SIGPIC]

 

 

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