Finance

With changes in the general economy have come changes in the self-storage finance world. Self-storage lenders, like those for all commercial real estate, apply more stringent underwriting standards when evaluating the potential of a construction, permanent or other self-storage loans. Even the refinancing process has become more challenging for self-storage owners, who must weigh their options and exit strategies. Some negotiate with lenders in an attempt to salvage underperforming self-storage properties. Tax issues are also a significant concern for self-storage owners. Cost segregation and 1031 exchange are possibilities to be explored. Financial and operating performance is reported quarterly by the self-storage real estate investment trusts (REITs): Public Storage Inc., U-Store-It Trust, Sovran Self Storage and Extra Space Storage.

  • Simply Self Storage Secures Another $100M in Equity
    OB Companies/Simply Self Storage, a diversified real estate developer that recently acquired a 48-property portfolio from EZ Storage, secured another $100 million of equity for 2007 purchases. ...More
    December 8, 2006
    Posted in News, Finance
  • Buchanan Partners With RBC Capital Markets
    Buchanan Storage Capital joined forces with the Real Estate Mortgage Capital Division of RBC Capital Markets to provide commercial mortgage-backed securities for the self-storage industry. ...More
    November 27, 2006
    Posted in News, Finance
  • Let There Be Cake
    Yes, you can have your cake and eat it too! Here’s how to cash out but keep the revenue flowing and equity growing in your self-storage business. If you stuff thousands of dollars under your mattress, it can’t earn you a penny. It’s similar to trapped equity. Many ...More
    November 7, 2006 Bill Walton
    Posted in Articles, Finance
  • Car Wash Financing
    Children’s literature star Chicken Little, renowned for predicting the sky is falling, also moonlights as economist, pragmatist, accountant and loan officer. The diminutive alarmist isn’t referring to the literal sky but is forewarning us about the importance of fiscal ...More
    November 7, 2006 Fred Grauer
    Posted in Articles, Finance
  • Over the River and Through the Woods
    During the old days, self-storage was little more than a ramshackle shed with a nice elderly person holding the keys ... but, this isn’t your grandma’s business anymore! Unless you’ve been living in one for decades, you know facilities emerging in the marketplace today are ...More
    November 7, 2006 Drew G. Whitney
    Posted in Articles, Finance
  • Creative Debt Structures
    It’s still a borrower’s market. The best news is self-storage commercial mortgage backed securities (CMBS) hold one of the lowest default rates of all real estate asset classes including office, industrial, retail and multi-family. Lenders once considered self-storage ...More
    November 7, 2006 Joe Maehler and Scott Sweeney
    Posted in Articles, Finance
  • Talking in Code
    Internal Revenue Code Section 1031 contains a mere 1,421 words, yet its significance can’t be overemphasized. Investors have enjoyed the advantages since 1921. The overriding principle—continuity of investment—is pretty simple. Boiled down, it means you should be able to ...More
    November 7, 2006 Mary Cunningham
    Posted in Articles, Finance
  • Properly Structured Construction Financing
    While most commercial real estate lenders understand retail, office, multifamily and industrial property types, fewer comprehend the nuances of self-storage construction financing. All too often, lenders apply financing parameters from other property types to self-storage ...More
    November 7, 2006 Richard M. Kerwin and Devin S. Huber
    Posted in Articles, Finance
  • The Cup Runneth Over
    Real estate operators have an unparalleled chance to solidify equity capital for the next three to five years, thanks to the strength of the self-storage industry and availability of institutional capital. Establishing a joint venture with an institutional partner positions ...More
    November 7, 2006 John R. Nikolich
    Posted in Articles, Finance
  • Do Your Homework!
    I recently spoke with someone new to the industry who was certain he owned the best development site on the planet. When I asked about his feasibility study, he sternly told me his county was the “fastest growing in America,” all local competitors were completely full, and ...More
    November 7, 2006 Benjamin Burkhart
    Posted in Articles, Development, Finance
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