StorageMart Offers New Self-Storage Bridge Lending Program
StorageMart, a leading provider of self-storage solutions in the United States, the United Kingdom, and Canada, has announced a new bridge financing program specifically designed for developers with Certificate of Occupancy, non-stabilized properties in lease-up, and value-add deals. According to the company's press release, the bridge lending program aims to provide "flexible, creative financing solutions to meet the unique needs of the self-storage sector and unlock equity for owners earlier in the stabilization process."
Key Press Release Highlights
- Flexible financing of up to 80% of the underwritten value.
- Non-recourse debt to free up credit for new construction lending.
- Interest-only loans with penalty-free exit options and low transaction costs.
- Competitive terms when minimum loans sizes ($5M) are met, with terms ranging from 3 to 5 years and further extension options available.
- Streamlined closings and a no-surprise due diligence process.
"StorageMart's bridge lending program is designed to offer more flexibility and better terms for developers in the self storage industry," said Alex Burnam, Senior Vice President at StorageMart. "We are committed to supporting the growth and success of our partners by providing innovative financing solutions."
For more information visit StorageMart's Bridge Lending Program.
Further Reading:
More Content
Popular Posts
The self storage industry is in a precarious...
The REITs new pricing strategy – lowering...
With the approval of both companies’...
There are an estimated 700,000 hotels in the...
Boat and RV storage has morphed and...
In a booming economy, expendable income...
It’s said that necessity is the mother of...
National Storage Affiliates Trust (NSA), the...
The question of “abandonment” of stored...
Self-storage is not an industry that is...
It’s odd that I ever get the “last word,”...
As children, most of us played “follow the...
Over the last five years, as the use of...
XYZ Storage wants to make life for its...
Mother Nature can be a cruel mistress....
Recent Posts
The storage industry went through a huge...
The self-storage industry is transforming...
Combating Break-Ins
In our industry, few...
In an era where urbanization and changing...
When Carol Mixon, president of SkilCheck,...
The bluebird is often associated with...
The U.S. Bureau of Labor Statistics reports...
Mother Nature can be a cruel mistress....