Trinity Street Capital Partners Expands Loan Program for Self-Storage, Other Real Estate

Real estate investment bank Trinity Street Capital Partners has expanded its construction-lending program to include nonrecourse loans up to 75% of cost for industrial, multi-family and self-storage properties. The program will focus on the top 200 U.S. Metropolitan Statistical Areas, with interest rates starting at 30-day LIBOR, plus 3%. Loan amounts will be available from $25 million to $250 million, according to a press release.

In addition, nonrecourse construction loans are available up to 60% of cost for anchored-retail, hospitality and office properties. The new program is in addition to the bank’s bridge and permanent-lending platforms, the release stated.

The program expansion is contrary to the general lending climate, “as traditional banks still have concerns over general economic conditions or are over exposed to certain property/loan types,” company officials said.

Trinity Street focuses on nonrecourse, high-leverage senior and subordinate debt and preferred equity, with investments beginning at $10 million on income-producing real estate nationwide.

Source: PR Newswire, Trinity Street Capital Partners Announces the Expansion of Its Non-Recourse Construction and Permanent Finance Program, With Loan Amounts Up to $250MM, Up to 75% of Cost