Category: Anatomy of a Deal

On a recent deal, I had a customer caught between a rock and hard place while choosing which financing route to pursue. While going through the different costs and various benefits of both the SBA 7a and SBA 504 programs, it was hard for the client to make a choice. Ultimately they went with the SBA 504 program due to the 25 year fixed rate on a portion of the debt. Here is a breakdown of both programs: Nick Collins Commercial Lender – Vice President Bank Five Nine 155 W.…

Over the past several years, my bank has financed hundreds of self storage deals. Some of these projects were existing facilities while many others were ground-up construction. Demand for storage is soaring and many operators are in need of adding more units to their existing sites. On a recent deal, I had a current SBA 7a loan in place and we were able to fund the expansion of both Phase 2 and Phase 3 of the site plan with zero money injected into the deal. The SBA 7a loan program…

Recently, Marcus & Millichap completed the sale of a 55,956 square foot self storage facility in Longview, TX. Within just two weeks of marketing the listing, the team generated ten offers, more than half of which came in at or above the asking price. FreeUp Storage I-20 had 10 offers within two weeks The Facility The property is situated roughly 130 miles east of Dallas along the I-20 just south of the city of Longview, TX, about 60 miles east of Shreveport, LA. Positioned alongside the I-20, it sits on…