Posted by Jack Siadek on November 04, 2000 at 24:48:42:
I have an opportunity to develop some self storage units near Sacramento. This is my first venture in this area (I have developed senior and aprtment housing).
The owner is willing to JV with me by subordinating the land to the deal.
I would appreciate information on the following:
What kind of financing does self storage typically get? Are there lenders who specialize in this? Is there any “rule of thumb” guidelines regarding cash flow? I’ve been told that construction costs are $30 psf. Does this sound realistic? (My last apartment project cost $110 psf)
Thank you for any help.