Our relationship doesn’t end the day documents get signed. Whether negotiating with a third-party lender, ensuring adequate reserves for construction and interest, or assisting with take-out financing or equity raises, we are your advocate throughout the process.
Self-Storage Recapitalization and Vertical Financing
The investor has over 50 facilities across the US. The investor will rehab both properties and will add covered parking for boats and RVs, as well as additional rentable square footage to the Fortson property in a mix of drive-up and climate-controlled units.
The first property shares a border with Chattanooga, TN, and comes with 54,175 square feet of rentable space configured in 441 units and 11 buildings across nearly 9.5 acres. After cosmetic rehabbing of the property, the location is positioned to thrive in the undersupplied market.
The second property is located in a northern suburb of Columbus, GA, just east of the Alabama border. The property offers 16,392 square feet of rentable space with 144 units, six single-level buildings on 5.60 acres. The borrower is rehabbing the property and adding 128 drive-up self-storage units, bringing the project up to a total of 34,892 rentable square feet and 272 units. In addition, covered boat/RV parking and cosmetic updates to refresh the property will position the management team to increase current rent rates.
Contact Jordan Siao today to get started on your next investment project.
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Highest Degree of LeverageWe loan against the completed value of your project, with no loan-to-cost requirements. As a result, we can provide more funding for your project than a bank can and that means more flexibility for you.
Speed / ConvenienceWe can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval. Banks can take months to review a typical real estate project. In that time, our clients’ projects are already underway and on the way to realizing profits.
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Unmatched Industry ExpertiseWe’ve closed approximately $2 billion in project capital over more than 1000 loans (and counting). Our level of construction market intelligence is second to none.
In-House Manual UnderwritingWe evaluate every deal on its own merits and are faster and more flexible in the evaluation process than traditional financing such as banks. You’ll typically get feedback within the same day of your request and a term sheet within as little as 24 to 48 hours.