COLUMBIA, Mo., July 26,
2024 /PRNewswire/ -- StorageMart, a long-time leader
in the self storage industry, is excited to announce a new bridge
financing program specifically designed for developers with
Certificate of Occupancy, non-stabilized properties in lease-up and
value-add deals. Our bridge lending program aims to provide
flexible, creative financing solutions to meet the unique needs of
the self storage sector and unlock equity for owners earlier in the
stabilization process.
Key Features of the StorageMart Bridge Lending
Program:
- Flexible Financing: Developers can take advantage of our
best-in-class third-party management to unlock equity dollars
earlier, with financing available up to 80% of the underwritten
value.
- Non-Recourse Debt: Enjoy the benefits of non-recourse
debt, freeing up credit for new construction lending.
- Interest-Only Loans: Our program offers interest-only
loans with penalty-free exit options and low transaction costs,
providing greater financial flexibility.
- Competitive Terms: With a minimum loan size of
$5 million, terms ranging from 3 to 5
years, and further extension options available, StorageMart offers
more advantageous terms than other bridge lenders.
Additional Program Benefits:
- Streamlined closings and a no-surprise due diligence process
ensure a smooth and efficient financing experience.
- Flexible, creative deals tailored to the specific needs
of each project.
"StorageMart's bridge lending program is designed to offer more
flexibility and better terms for developers in the self storage
industry," said Alex Burnam, Senior
Vice President at StorageMart. "We are committed to supporting the
growth and success of our partners by providing innovative
financing solutions."
For more information and to discuss how StorageMart can help
with your next project, visit our website at
https://www.storage-mart.com/bridge-lending-program or contact
our team directly at +1 (660) 319-4252 x4627.
About StorageMart: StorageMart is a leading provider
of self storage solutions with a strong presence across the
continental United States,
Canada, and United Kingdom. Our commitment to customer
satisfaction and innovative solutions has made us a trusted partner
in the industry.
Contact:
Alex
Burnam
Senior Vice President, Acquisitions
Office: +1 (660) 319-4252 x4627
Cell: 573-268-4017
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SOURCE StorageMart