SELF-STORAGE PROPERTIES

Underwriting Parameters

Term:

10 Year Fixed Rate Loan Term.

Amortization:

30 Year Amortization

Loan to Value

85% Maximum

Debt Service:

1.20 Minimum

Preferred Properties:

Age & Condition:

20 years old or less. Older properties with material renovations are acceptable. Regardless of age, all properties should be in average to good condition.
 

Construction:

Steel frame with masonry piers. Typically the minimum acceptable facility size is 40,000 square feet with an on-site residence. Multi-story facilities will be considered based on specific underwriting considerations.
 

Leasing:

Tenancy:

Parking:

One space per 10,000 square feet of building area and parking should be in proportion with competitive properties. Heavy traffic and loading areas should be constructed of concrete and provide adequate maneuvering space
 
 

Location:

Market:

Should be stable or exhibit positive economic and demographic indicators.

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