Standard financing for self-storage properties

First National’s standard financing programs are favoured by borrowers who look to acquire a new property or refinance an existing building. Loan terms typically range from three to five years, have a fixed interest rate, and are closed to prepayment for the term’s duration.

First National’s standard financing programs are ideal for borrowers when they acquire a new property or refinance an existing property and want longer-term financing.

Standard financing terms are typically five years (shorter and longer options are available), feature a fixed interest rate and are usually closed to prepayment for the term’s duration.

This type of financing is suitable for properties with steady cash flows and consistent operating history. For self-storage assets, this means properties with consistently high occupancy and a history of stabilized operations. The borrower’s experience as an operator is also a critical consideration.

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Smart risk solutions in action for storage

See how we’ve applied our financing products innovatively to help storage borrowers achieve their goals with performance and value.

The loan will be utilized to repay the existing construction

$11 Million
18 Units
Vancouver, British Columbia

CMHC Insured
5 years term, 40 years amortization
LTV: 92.54%

Conventional bridge loan to finance the construction of a student residence

$41 million
107 units
Waterloo, Ontario

Conventional construction financing
6 months term, interest only
LTV: 72%

Provide financing to convert an existing industrial property

15.7 Million
46,793 sq. ft.
Toronto, Ontario

80% of cost conventional construction financing

$3.36 million
4,040 sq.ft.
Antigonish, NS

View all recent financings

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Bridge financing

First National’s bridge loan terms typically range from three months to three years, include floating interest rates and allow some form of early prepayment. Borrowers choose this solution until standard financing is secured or while they contemplate a property sale or a change in ownership structure or to buy time to complete an operational improvement.

Asset repositioning

First National enables owners to access a property’s equity for a short term, typically two years or less, to fund capital improvements or repairs without the need to raise capital from personal sources or less flexible, higher-cost alternatives.

Secondary financing

A First National second mortgage allows borrowers to access the equity in a property and use it to purchase another asset or renovate/repair an existing asset.

Development / Construction

A First National construction loan provides funds to cover the cost of building or rehabilitating a property with terms typically of three years or less.

Sign up for Market updates

Economic and political developments – both in Canada and globally – can impact the commercial real estate market. First National experts follow these trends closely and provide honest, real and professional perspectives into what they could mean for your portfolio.

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