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The SBA has introduced important updates to its 504 refinance program, enhancing flexibility and benefits for business owners. Here’s a brief overview of the changes: Expanded Access to Working Capital Previously, borrowers could take out up to 20% of the appraised collateral value for working capital during a refinance, limited to an 85% loan-to-value (LTV) ratio. The new guidelines eliminate this 20% cap and increase the LTV limit to 90%, providing businesses with more financial options Eased Refinancing Restrictions on 7a and 504 Loans Before, businesses had to demonstrate a…

Self-storage development has emerged as a compelling opportunity in the real estate market, offering steady returns and economic resilience. However, success in this sector often requires embracing the principle of delayed gratification – the ability to forgo immediate rewards for greater long-term benefits. The delayed gratification comes in the form of appreciation, depreciation, cash flow, and the ability to use amortization, which provides several key advantages: Equity growth: In an example of a $10M new development, your initial $1.5 million (15% down) investment using a SBA loan could grow to…

As an industry, we’ve been focusing, rightly so, on security measures to protect facilities from rising break-ins, theft and other vandalism. But there are other areas of safety and security in self-storage that are often overlooked. Read on for 6 that you don’t want to miss—and how you can easily remedy them. Delayed Repairs: Whether it’s tenant damage from backing into a door or natural disasters like the recent hurricanes, delaying repairs for damaged units leaves your units at risk because it can create a ripple effect of further damage…

JLL Capital Markets announced today that it has completed the sale of a six-property self-storage portfolio totalling 468,266 rentable square feet in the Philadelphia MSA and the Tampa, Sarasota and Fort Myers areas of West Florida. JLL’s National Self-Storage team represented the seller, a partnership between Metro Self Storage and Heitman, and procured the buyer, Andover Properties. The properties were operated and managed under the Metro Self Storage brand at the time of sale and will be rebranded to Andover’s Storage King USA brand. The portfolio consists of three properties…

Ask anyone in the self-storage industry what their biggest concern is today, and most of us will list break-ins at or near the top of the list after seeing a rise in criminal activity at facilities over the last 5 years. In fact, according to a recent survey by Janus International, 85% of self-storage owner-operators say that theft and break-ins are top of mind, and 57% report that they’re dealing with repeated break-ins. But it doesn’t have to be this way. With cutting-edge technologies and services, you can address vulnerabilities…