StorageMart Offers New Self-Storage Bridge Lending Program

Written by Modern Storage Media | Jul 27, 2024 11:45:00 AM

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.