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13th May 2009, 10:54 AM #1Junior Member
- Join Date
- May 2009
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.
13th May 2009, 05:07 PM #2
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!
13th May 2009, 05:23 PM #3
Hey there ... A few resources you might find useful:
The finance section of the ISS buyer's guide:
The ISS resource directory:
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?
Today's Self-Storage Refinancing Playbook
Is Your Self-Storage Loan Overleveraged?
How to Choose a Self-Storage Lender in a Lender’s Market
[http://www.insideselfstorage.com/art...e-market.html]Teri L. Lanza
14th June 2009, 10:10 AM #4Member
- Join Date
- Jan 2008
- Sun Lakes, AZ
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 06:16 PM. Reason: Provide links to resources, not full text; vendor promotion not allowed