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MM4L recognizes self-storage as an investment property, which compares favorably to many more glamorous types of real estate. MM4L can connect borrowers with capital sources who understand the seasonal and economic cycles of this industry, providing opportunities for building or expansion of self-storage facilities.
MM4L can provide the following loans:
Permanent Loans: Fixed rate, non-recourse loans with maturities of between three & twenty years are available. Amortization will vary, based upon leverage amount and property effective age. Maximum loan to value of 85%.
Bridge Loans: For existing properties with upside potential or tenant roll-over, the bridge loan structure offers a floating rate interim financing structure, which allows the loan to be refinanced at par (no penalty) once the income is stabilized.
Construction Loans: Projects with pre-leasing of 0% to 20% or more can qualify from 75% to 90% of cost construction financing. In some cases a combination construction/permanent loan will be offered, saving the cost of closing two loans and taking the guesswork out of the permanent loan term.
Forward Commitments: Fixed rate permanent financing can be secured in advance for properties which are six to eighteen months from completion or stabilization, thus allowing the loan rate and terms to be determined today. This product can be used to attract or improve construction financing.
Development Mezzanine Financing: Re-developments and proposed projects qualify for financing above the senior loan position. Mezzanine financing increases available financing up to 100% of the total project cost for projects.
Permanent Mezzanine: This form of mezzanine provides liquidity for equity contained in stabilized properties. Loan proceeds, above the first mortgage up to 95% of value, are fully amortized over 7 to 15 years. This product allows the borrower to tap into a property's value without the tax implications of a sale.
Over the past decade, we have seen a growing number of self-storage facilities appear around our neighborhoods. This once underserved market has been developed into one of the more competitive building classes in the country. New developments for self-storage buildings include state of the art security devices, 24-hour on-site management, video surveillance and fire control systems. In order to attract the widest customer base as possible, some facilities offer storage capabilities for wine, furs or vault type storage. While others offer climate controlled, cold storage or even exterior RV or boat storage. In markets where land comes at a premium, some self-storage facilities are several stories high. Large capacity freight elevators enable customers to access to their storage unit nearly as easy if it were on the ground. Whatever the case, we have a seasoned staff that is up-to-date with the most current advances in self-storage industry.
Click on the links below to get a better idea of all Property Types we can finance.
Multi-Family/Apartment Buildings
Mixed-Use Properties
Office Buildings
Co-op Mortgages
Retail Property Financing
Warehouse / Industrial
Hotel / Hospitality
Self Storage
Commercial Co-ops and Condos
Congregate Care Facilities
Specialty Properties(including Golf Courses)
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