Commercial Real Estate Lender, Pacific Security Capital, Announces New Guide for Securing a Self Storage Property Loan

Pacific Security Capital, a leading commercial real estate lender, announces a new guide for self storage property loan seekers to use in securing commercial real estate loans for Self Storage Properties.

(PRWEB) February 17, 2004--http://www.PacificSecurityCapital.com - Pacific Security Capital, a commercial real estate lender has developed a useful resource for breaking down the underwriting guidelines to secure a Commercial Real Estate Loan for Self Storage Property.

Pacific Security Capital's expertise in the commercial real estate business includes: mezzanine loans, permanent loans, bridge and interim financing for multifamily, retail, office, hospitality and industrial loans. Through years of commercial capital markets experience, Pacific Security Capital has compiled the following underwriting guidelines to consider when applying for a Self Storage Property Loan:

1 - Identify the Type and Amount of the loan desired:
Acquisition, Development or Refinance Commercial Real Estate Financing is available. (Construction and mini-perm financing is also an option)
* Small Loan Programs range from $1 Million - $3 Million
* Large Loan Programs range from $3 Million - $15 Million

2 - Determine eligible property locations:
Nationwide - market areas with a stable current occupancy of competitive product are preferred.

3 - Identify Details of the Loan:
* Occupancy - 85% minimum occupancy
* Debt Service Coverage - 1.35 x minimum
* Loan-to-Value Ratio - Maximum 75% LTV
* Long Term - 5, 7, 10 and 15 years
* Amortization - 25 years or less, depending on age, quality of construction and market location
* Pricing - Pricing is based upon the quality of the real estate (A, B or C) project economics ad borrower suitability. Spreads range from 200 - 325 basis points over the corresponding U.S. Treasury.

By following these underwriting guidelines from Pacific Security Capital, the process of obtaining a Commercial Real Estate Self Storage Property Loan is much simpler and is greatly accelerated.

About Pacific Security Capital:
Pacific Security Capital is a leading commercial real estate lender providing debt, equity and hybrid capital for the acquisition, development, construction, renovation, bridge, mezzanine, and permanent financing of commercial real estate projects requiring more than $1M in financing. Pacific Security Capital is headquartered in Portland, Oregon with offices in Seattle, LA, Chicago, Houston and New York. More information about the company can be found at http://www.PacificSecurityCapital.com .

For information about Pacific Security Capital visit: http://www.PacificSecurityCapital.com or contact Mike Myatt at e-mail protected from spam bots