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Loans

Prepayment Penalties: What Self-Storage Operators Need to Know Before a Refinance

With interest rates at an all-time low and more lenders issuing loans, many would say it’s a great time to refinance a loan on a self-storage property. However, facility owners should first understand the possible prepayment penalties, using handy online tools to determine ...More
March 25, 2013
Posted in Articles, Finance
Self-Storage Real Estate in the Northeast: Experts Discuss Cap Rates, Loans and Regions Ripe for Investment

The self-storage real estate market continues to improve in the northeast states; however, the number of quality, stabilized facilities available for purchase is beginning to dwindle, forcing capitalization rates to compress in some markets. Real estate experts discuss cap ...More
March 15, 2013 By Ben Vestal
Posted in Articles, Finance, Real Estate
Self-Storage Finance Firm BSC Group Reports Record Year in 2012

The BSC Group LLC, a commercial real estate financing advisor and provider of debt and equity capital solutions for self-storage owners, reported a record year in 2012 and is experiencing its best first quarter ever in 2013, according to a press release. ...More
February 28, 2013
Posted in News, Finance
2013 Refinancing Options for Owners of Self-Storage Properties

With interest rates at historical lows, there’s no better time to refinance an existing self-storage loan. Here’s an exploration of the various types of lenders and loan terms, along with the benefits and detractors of each. ...More
January 20, 2013 By David Smyle
Posted in Articles, Finance
Financing Self-Storage Properties in 2013: Take Advantage of the Healthy Lending Market

Although we have macroeconomic risks, the capital markets have returned to health, partially as a result of the stability in the commercial mortgage-backed securities (CMBS) market during 2012. For self-storage investors and owners, all signs point to another strong year of ...More
January 12, 2013 By Devin Huber
Posted in Articles, Finance
Broadacre Financial Opens to Serve Self-Storage and Other Industries

Lending veteran Christopher Haynes, formerly of Bank of America/Merrill Lynch, has opened Broadacre Financial Corp., a boutique commercial real estate advisory firm specializing in debt and equity financing and restructuring. Based in New York City, the firm will provide ...More
November 19, 2012
Posted in News, Finance
LifeStorage to Convert Chicago Furniture Building into Self-Storage, Retail and Office Space

LifeStorage, an operator of self-storage facilities in the Chicagoland area, recently secured a $13.8 million loan to convert the former Stein Furniture building at 1030 W. North Ave. into a mixed-use property featuring self-storage, retail and office space. ...More
September 19, 2012
Posted in News, Construction, Development, Finance
Self-Storage Owner Sells Remaining Stake in Facility at Center of Bankruptcy Cases, Alleged Ponzi Scheme

Jerry Sabini’s name remains attached to Jerry’s Self-Storage in New Windsor, N.Y., but the beleaguered owner recently sold his remaining stake in the business during a public auction tied to his 2009 Chapter 7 bankruptcy case. ...More
August 30, 2012
Posted in News, Finance, Legal Issues
New Windsor, N.Y., Self-Storage Facility at Center of Bankruptcy Cases, Alleged Ponzi Scheme

Jerry’s Self-Storage is at the center of an alleged Ponzi scheme and financial losses that triggered a personal Chapter 7 bankruptcy filing in 2009 by owner Jerry Sabini. In a move to recoup millions of dollars for Sabini’s lenders, a court-appointed bankruptcy trustee has ...More
July 30, 2012
Posted in News, Finance, Legal Issues
Self-Storage and Current Real Estate Interest Rates: Facility Owners Wonder, Will the Low Rates Hold?

Self-storage owners interested in refinancing an existing or acquiring a new facility are always concerned with interest rates. Based on historical standards, today's rates are low. But is this an abnormal period of sustained low rates that will soon revert to the long-term ...More
June 12, 2012 By Devin Huber
Posted in Articles, Finance, Real Estate

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