Self-Storage Owners Gaining Access to Loans
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In the next five years, the top 50 US markets will need about 3,450 new self storage facilities
CHICAGO—The self-storage sector has been recordingbig gains in occupancy and revenue for several years, boosting its appeal among investors and lenders. AndAries Capital, a national real estate mortgage and investment banking firm in Chicago, has just joined the Self Storage Association, bringing members increased access to institutional, non-recourse permanent debt and bridge loans.
Aries specializes in securing non-recourse, 10-year, fixed rate, permanent debt for cash-flowing properties through institutional lenders beyond a borrower’s local bank. Unlike a bank loan, non-recourse loans are secured by the property only and don’t require a banking relationship or the burden of personal guaranties. This method of financing also allows higher leverage and may include closing cost reductions or credits back…
Self-Storage Owners Gaining Access to Loans
