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Financing arranged: $4,050,000 refinance for a 277-unit self-storage facility in Utah

Tags: Self-Storage Financing, Mini-storage loans, non recourse loans, low interest rate commercial loans
Wednesday, Dec 09, 2020
by Jared Shupe

Summary:  The Madison Group (TMG), a leading national lending source of self-storage finance arranged the $4,050,000 refinance for a 277-unit self-storage facility in Utah.

Upon engaging TMG, the borrower’s primary goal was simple - find the best rates and terms available in the market for a well-positioned, stabilized mini-storage facility that had been under ownership and management for many years.  Having placed a similar facility in both size, location, and loan amount just a short time earlier, TMG returned to one of its trusted lenders to find excellent non-recourse financing to fund the deal.  With the help of TMG’s processing department and the borrower’s timeliness for required approval and closing documents, the transaction closed and funded in less than 60 days from initial discussions.  A true win-win for all parties involved. 

Location:  Utah

Property:  277 Unit Self-Storage Facility

Loan Amount: $4.050,000

Interest Rate:  3.00%

Term:   10 Years

Amortization:   30 Years

Prepayment:  5, 5, 4, 4, 3, 3, 2, 2, 1, 1

LTV:   67.5%

Non-Recourse



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