StorageMart Introduces New Bridge Lending Program for Self Storage Facilities

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Jul 26, 2024, 08:12 ET

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

SOURCE StorageMart