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Self Storage Financing

Recent Closed Loan: $2,800,000 non-recourse for a self-storage facility in Utah

Monday, Sep 14, 2020
by Jared Shupe

Summary:  The Madison Group (TMG), a leading national lending source of Self Storage financing, arranged the $2,800,000 purchase non-recourse financing for a 379 unit self-storage facility in Utah.  The borrower had additional 1031 funds to deploy and was seeking the best loan terms possible with an efficient lender.

Having recently come through a particularly difficult transaction with another broker and lender, the borrower’s goals were to facilitate a loan process with a lender that would not only provide great rates and terms but could approve, and close the loan in a cost efficient and timely manner.  TMG was able to quickly find a lender with excellent terms with the help of TMG origination and processing staff.   The borrower was able to close on time in what proved to be a well-organized, professional process by all parties. 

Location:  Utah

Property:  379 Unit Self Storage Facility

Loan Amount: $ 2,800,000

Interest Rate: 3.35%

Term:   10 Years

Amortization:   30 Years

Prepayment:  5,5,4,4,3,3,2,2,1,1

LTV:   53%

Non-recourse



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