An exit strategy for the construction loan is one of the key considerations for funding. Construction loans are repaid from the proceeds of standard financing or the sale of the asset.
Other critical considerations include the borrower’s experience, net worth and liquidity, as well as the location and quality of the site and market study.
Providing construction and development financing for a self-storage facility can be challenging; however, it can be considered in the right circumstances.
Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage.