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.
Falling Interest Rates:That's Good, Right? So Why Aren't We Smiling?
Falling Interest Rates:That's Good, Right? So Why Aren't We Smiling? The following is reprinted from the Argus Self Storage Sales Network Market Monitor newsletter. Interest rates are at all-time lows, which is good if you're a consumer, but something odd is happening in ...More
A Walk Down Wall StreetThe state of financing in the self-storage industry
A Walk Down Wall StreetThe state of financing in the self-storage industry By Tara Collins Though reserved, lenders and Wall Streeters are optimistic for 1999. While the market took a hard turn during the last two quarters, things are beginning to look up for self-storage ...More
The Financial Package
Everything's Coming Up Roses Lenders Offering All-Time Low Interest Rates By Eric Snyder There is absolutely no question that now is the time to refinance your self-storage facility. The current interest-rate environment is one of the best in the last 25 years. At the ...More
A Dynamic Market
Securitized Lenders: What is the deal? By Neil Gussis Lenders that securitize their loans are here to stay. The savvy self-storage owner understands financing alternatives, takes advantage of good economic conditions and focuses on lenders with expertise in the self-storage ...More
One on OneAn Interview With Neil Gussis
One on OneAn Interview With Neil Gussis Neil Gussis, senior vice president, First Security Commercial Mortgage When we last caught up with Neal Gussis in the June 1995 issue of Inside Self-Storage, securitized lending was just beginning to make inroads in the self-storage ...More
Forecasting Real-Estate Taxes
Forecasting Real-Estate Taxes By Michael Donohue Each year storage owners conduct a budgeting process that includes forecasting the next year's real-estate taxes. This article will examine the factors that influence real-estate taxes, offering the reader a checklist ...More
Tax Reform '97: Relief for Investors, Families Through Life's Stages
The following is the first part of a two-part article, reprinted from A.G. Edwards' Tax Saver, a special guide to the new tax law. The Taxpayer Relief Act of 1997 provides investors valuable tax breaks and introduces new ways to save for the future. But getting the greatest ...More
The Real-Estate Market at the End of the MillenniumWhere are we and where are we going?
The Real-Estate Market at the End of the MillenniumWhere are we and where are we going? By Michael L. McCune The last few years have been very good for the owners of self-storage facilities. Clearly, the market for the ultimate product has been strong and growing. ...More
State of the Industry
State of the Industry Will the Boom Continue? By Cecile Blaine They say hindsight is 20/20. That's why we must look to the past in order to anticipate the future. It is especially true in gauging the health of the self-storage industry. Since self-storage is a real-estate ...More
Inside Self-Storage 11/97
By Eric Snyder Are you looking to finance either a new or existing self-storage facility? There are a variety of factors to consider. You can save time and money by being prepared and knowing the right way to go about locating the lender you need. Here are some of the most ...More