Storage Unit Construction Financing

We provide financing in all 50 states.

Storage unit construction financing.

But approaching financing from this perspective may create long term negative consequences. Many first time self storage developers assume a construction loan is similar to permanent financing. We provide loans for the following properties but not limited to. Most investors purchase self storage for three reasons.

These self storage loans range from 1 million to 40 million or more. Multi story self storage building costs have more variables and can range from 42 per square foot to as much as 70 per square foot. Find the company that can assist you with your financing leads below. Self storage financing is used to finance the purchase renovation or construction of self storage units and commercial real estate buildings.

To estimate how much lease carry money you will have to borrow usually as part of your construction loan determine what percentage of your net leasable square footage you can reasonably expect to have leased each month. Self storage construction financing usually starts with a short term construction loan or bridge loan often interest only for up to 18 months. Your goals will impact the kind of financing best for you. Types of self storage loans and financing we offer.

Loans are available for new construction expansion and rehabilitation. Borrowers typically put in equity equal to 20 to 25 of the property value and the loans are typically recourse. Self storage financing below are companies that specialize in financing self storage and mini storage facility purchases refinance and development. Cash flow appreciation and tax benefits.

Unlike traditional lenders and banks these companies understand the self storage business. The most popular self storage loans are conventional bank loans sba 7 a loans for commercial real estate and sba 504 loans. Self storage lenders generally look at the operations financial performance value of the real estate the local market and the credit profile of the borrower. Multifamily office retail industrial hospitals healthcare self storage hotel mixed use and churches.

Whether it s a straight purchase new construction renovation short term bridge financing or refinancing with or without cash out clopton is the entity always ready to give you platinum service. Construction and development financing is radically different from other credit facilities. Self storage loans are used to space out the total cost to build or acquire storage facilities over a 20 30 year period. Costs for single story self storage construction typically ranges between 25 40 per square foot not including land or site improvement costs.

Etc debt service on the construction loan or mortgage taxes and liability insurance property not unit contents.