Thread: 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.

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.

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]

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)