Great Eastern Investments

Self Storage Facilities Property Program

For a current pricing matrix, complete our On-Line Form
Property Type: Self Storage properties of 500 units, or more, with good locations, construction, occupancy, and maintenance.
Loan Security: First fee mortgages encumbering completed projects along with customary assignments and pledges. Leaseholds considered on a case-by-case basis.
Loan Amount: $500,000 to $35,000,000 per property. Larger loans are case by case.
Term: Ten (10) Years.
Amortization: Up to Thirty (30) years, or five (5) years less than the remaining life as determined by the Appraisal and Property Condition Report.
Maximum LTV: 75%
Minimum DSCR: 1.30:1 minimum.
Recourse: Non-Recourse, except for standard lender carve-outs, which require 100%.
Occupancy: Historical three years, most recent year-end, trailing twelve months, and current (not more than 30 days old) Occupancy with annual averages. Minimum 80% average historical occupancy required.
Commercial Space: Permitted providing commercial space does not exceed 20% of square footage, or 20% of effective gross income. If either occurs, pricing and structure may change.
Replacement Reserves: Typically, minimum of $25 - $50 per unit annually, or as scheduled in the Property Condition Assessment Report. Monthly escrow is required.
Other Conditions: See Standard Terms and Conditions.
Interest Rates: See the most current Pricing Matrix. Rate Buy-Downs are available.
ALL terms are subject to change.

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Great Eastern Investments, L.L.C.
Tel: 888-463-4422 Fax: 830-796-4774
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