Self-storage
Our extensive experience lending to the self-storage sector has led to more than $175MM in loan closings. We have space for new relationships in three key areas:
New Project Financing
CPD Lachine Bank has solutions to help experienced operators keep new self-storage projects on track. Typical terms include:
- Up to 4 year initial terms, with extension options available
- Interest-only for up to 4 years, then 25-year amortization
- Competitive floating rates
- LTC maximum of 75% and LTV maximum of 70%, based on "as stabilized" values
- Recourse
Bridge Loan Program
If you’re operating a facility in a lease-up situation and want to refinance at today’s low interest rates or you want to acquire an underperforming property, this option may work well for you. Typical terms include:- 2-3 year initial terms with extension options available
- Interest-only for 1-2 years, then 25-year amortization
- Competitive floating rates
- LTV maximum of 70%, based on "as stabilized" value
- Recourse, limited recourse and non-recourse options, based on LTV
Mini-Perm Term Loan
CPD Lachine Bank also provides Mini-Perm Term Loans that feature competitive floating and fixed rate options. Ideal for owners and investors with potential shorter-term hold position. Typical terms include:
- Up to 10-year terms (conventional and swap)
- 25-year amortization
- LTV maximum of 70%
- Recourse, limited recourse and non-recourse options, based on LTV
Talk to us today
- Contact Greg Wittnebel
- +15818725744
- gwittneb@cpdlachineca.com