Debt and Equity Capital for Self-Storage

Expand your business with financial solutions designed exclusively for self-storage owners.

Nate Kinet

Head of Originations

(608) 320-1506

nkinet@slselfstorage.com

Lending Parameters

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Last Updated: April 30, 2024 Financing Construction Mezzanine & Preferred Equity
Security First mortgage First mortgage Subordinate
Leverage Up to 80% LTC Up to 70% LTCe Up to 80% (possibly higher with equity participation)
Terms 1-5 years 1-3 years Up to 10 years
Size Range $25 - $200mm $10 - $250mm $5 - $25mm
Fixed/Floating Floating Floating Fixed or floating
Rates 1M SOFR + 300 floor 1M SOFR + 450-600bps 14%+
Amortization IO IO IO
Min. Debt Yield N/A N/A Exit DY > 7%
Fees 1% origination; 0 - 1% exit; 0 - 0.5% extension 1% origination; 1% exit 1% origination; 0-1% exit; 0-1% extension
Reserves Interest/carry, tax/insurance, FF for TI/LC/capex Interest/carry, tax/insurance, future funding of draws Interest/carry, tax/insurance, FF for TI/LC/capex
Prepayment 18-month minimum interest 12-month minimum interest 18-month minimum interest
Non-Recourse Non-recourse Non-recourse with completion guarantee Recourse or non-recourse
Locations Primary and secondary MSAs Primary and secondary MSAs Primary and secondary MSAs
Rate Cap Required, typically 50-100 bps higher than index Required N/A
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Acquisitions Parameters

What we look for when buying properties:

Single or multi-property portfolios

Value-add, in-lease up, or additional land for expansion

50,000 minimum rentable square footage

Drive-up or indoor, climate controlled, and vehicle self-storage

Markets: Primary, secondary, or tertiary with positive growth

Large ground-up development

Experience You Can Trust

$500 Million+

Assets & Commitments

1,700+

Facility Relationships

1.8 Million

Square Feet Owned

Why work with us?

Storage Focused

We know the unique characteristics of storage because it's all we do.

Well Capitalized

$500M of capital. We are not a fund or syndicate, we invest only our principal's capital.

Fast Execution

We don't operate via committee. You'll deal directly with principals.

About Us

SL Storage Partners is part of the SafeLease family of companies.

2018

Steven Stein launches Etude Storage to acquire sunbelt assets, becoming an ISS Top 100 Owner.

2021

Etude launches SafeLease with a mission to be the premier self-storage tenant protection company.

2023

SafeLease protects over 1,500 facilities.

2024

SL Storage Partners launches $500 million vehicle to invest in self-storage debt and equity across the United States.

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Contact Us

We welcome the opportunity to hear from you.

Nate Kinet

Head of Originations

(608) 320-1506

© 2024 SL Storage Partners - All Rights Reserved