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Self Storage

Commercial Institutional Financing & Funding plus Hard Private Money Bridge Loans.

bullet($850,000 to $10,000,000)
 
bulletPROPERTY TYPES: Existing self - storage facilities containing a minimum of 25,000 sq. ft. of building area. Masonry buildings are preferred, but metal buildings will be considered on a case-by-case basis. Locations should be in commercial or industrial areas with high visibility and accessibility.
 
bulletLOAN LIMITS: The loan not exceed 75% of value or the amount that produces a minimum debt service coverage ratio of 130%.
 
bulletOCCUPANCY REQUIREMENTS: Property must have had at least 85% occupancy for the past twelve months.
 
bulletBORROWING ENTITY: Generally, a single purpose entity is required.
 
bulletLOAN TERM: 7 or 10 years amortized over a 20-25 year basis.
 
bulletRATES: nterest rates are set at a fixed spread & over comparable term treasury.
 
bulletRECOURSE: Non-recourse except for normal carve-outs.
 
bulletASSUMABLE: Yes, with consent of lender and a 1% assumption fee.
 
bulletPREPAYMENT: Loans subject to prepayment restrictions and yield maintenance covenants.

© 1997 Met Mortgage Corp. 

Commercial Institutional Financing through out the US. Private Funding Hard Money, Apartments, Bridge Loans, Equipment, Office, Retail, Self Storage, Health, Hotel/ Motel, Industrial & Mixed-Use. Note and Mortgaging Purchasing.
 

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