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.
Burlington Self Storage Receives $8M in Permanent Financing
Burlington Self Storage in Burlington, Mass., received $8 million in permanent financing. The new loan replaces a maturing conduit loan. ...More
1099 Reporting Requirement: A New Compliance Problem for Self-Storage Operators?
The Form 1099 requirement could have two potentially negative impacts on your day-to-day self-storage operation. ...More
Inside Self-Storage Releases 2011 Factbook: Industry Compendium of Info
Inside Self-Storage (ISS) has released its 2011 Factbook, a comprehensive collection of articles addressing the complete self-storage experience, from the initial stages of development and finance through the nitty gritty of facility operation. ...More
Self-Storage Now Qualifies for Small Business Administration Loans
Finding money to buy or build self-storage has been a challenge in recent years, but the U.S. Small Business Administration (SBA) is providing hope to independent owners and investors. Due to recent changes in the SBA’s loan guidelines for passive-income properties, ...More
Cushman & Wakefield Releases 2010 Self-Storage Investor Survey
Cushman & Wakefield has released the results of its 2010 Self-Storage Investor Survey in a report titled "Resilient Asset Class Gains Traction." The valuation and advisory publication expands on results found in reports such as the Korpacz Investor Survey, published ...More
Sovran Releases Financial Results for 3Q 2010 With Increases in Rents and Occupancy
Real estate investment trust Sovran Self Storage Inc. reported operating results for the quarter ended Sept. 30, 2010. ...More
Marcus & Millichap's Managing Director Discusses Real Estate Improvement on CNBC 'Squawk on the Street'
Hessam Nadji, managing director of Marcus & Millichap Real Estate Investment Services, was featured on "CNBC Squawk on the Street" on Oct. 26. ...More
Self-Storage Now Eligible for SBA Loans
The U.S. Small Business Administration recently changed its loan guidelines allowing self-storage businesses as an eligible business type. ...More
Shares for Sovran Self Storage Gain Momentum
Shares for Sovran Self Storage gained 0.33 percent earlier this week, trading from $38.88 to $39.23. ...More
Real Estate Market Snapshot: Self-Storage in the Western States
The author recently assembled a roundtable of real estate experts to discuss the state of self-storage in the western region including the state of the market and how the industry will perform moving forward. ...More