"America's Premier
Self Storage Brokers"
April 2006
2953 S. Peoria Street
Suite 207
Aurora, CO 80014
1-800-55-STORE
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"America's Premier April 2006 |
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2953 S. Peoria Street |
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Amy  Amy Hitchingham is the Director of Marketing & Operations for the Argus Self Storage Sales Network and www.selfstorage.com. She can be reached at 303-785-6086 or via e-mail at amy@argus-realestate.com. |
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Check out all of our Current Listings Webb City, MO
For more information on this
opportunity,
Join Argus on our upcoming free National Teleconference! To RSVP, call 1-800-55-STORE or click here (be sure to include your name, phone number and preferred call date). Newport Beach (April 10, 2006) - A hot new conversation in the lending community has some lenders complaining about other lenders and their ‘overly risky underwriting’ which they believe is already leading to an increase in both the loan default rate and the delinquency rate. Some are predicting that this aggressive lending period will be coming to an end soon and that rising interest rates will coincide with a “pull back” by lenders. For the past several years, bank economists have predicted sustained interest rate increases; however, this has only proven true for short-term indexes such as Prime and LIBOR that have steadily inched their way up over the past few years. In contrast, the longer-term Treasury rates have been on a roller coaster ride, jumping up and down, and leading to today’s worrisome flat yield curve. For example, the 30-day LIBOR Rate and the 10-Year Treasury rate are both just under 5.00%. Additionally, over the past few months, the roller coaster ride of the past several years has transitioned to the slow and steady increase of the 10-Year Treasury from the mid 4.00% range to almost 5.00%. There will always be opposing views as to whether long-term rates are going to remain low or continue to climb; however, there is no doubting that the increasing trend over the past few months has been a steady rise in treasury rates. When you add this pressure on Treasuries to rising concerns associated with future loan defaults and delinquencies, it could lead to a “double whammy” effect. Lenders may begin to underwrite more conservatively while interest rates continue to rise. These concerns stem from the fact that American’s personal savings are at historic lows, debt to income ratios are at historic highs, energy prices are rising and wages are lagging. The result is a growing fear that the equity in our homes may no longer bail us out. We are starting to see these concerns leak into the real estate market as properties are taking longer to sell and concessions are starting to appear for some product types in some markets. The problem is that if other commercial property types begin to show weakness, lenders will lump self-storage in with all other real estate product types when they begin to tighten their underwriting criteria. Are we heading into a new phase of the real estate cycle while we continue to hold out hope for the continuation of historically low interest rates, cap rates, and unemployment rates? The key question is how long all of these factors can continue before an adjustment occurs. This may very well be the best time to consider locking in today’s rates on properties in lease-up or to refinance loans that are nearing maturity because not only may rates be higher but lenders may begin to reduce potential loan proceeds by implementing more stringent underwriting criteria. About Buchanan Storage Capital… Buchanan Storage Capital is the market leader in arranging debt and equity for self-storage owners nationwide. Our customers receive the most competitive capital because we have earned significant leverage with the most aggressive storage lenders over the past decade. The principals of Buchanan Storage Capital, Jim Davies and Eric Snyder, have a $2.5 billion track record in storage financing and the firm closed over $450 million in 2005. Parent company, Buchanan Street Partners, a leading real estate investment bank, has completed over $10 billion of transactions since its inception in 1999. For more information call 949-721-1414 or visit www.buchananstoragecapital.com.
U-Store-It Trust Announces Resignation of
President and CFO and Appointment of Interim CFO: U-Store-It
Trust (NYSE: YSI -
News), a self-administered
and self-managed real estate investment trust focused primarily on
self-storage facilities, announced April 10 the resignation of Steven G.
Osgood, President and Chief Financial Officer. Mr. Osgood will leave to
pursue other opportunities as of April 20, 2006. The Company will conduct a
search for a replacement. Tedd D. Towsley, Vice President and Treasurer, has
been named interim Chief Financial Officer.
Read Full Press Release SSA Market Inventory Study Details Each County in the U.S.: Attendees at this year’s SSA Spring Conference & Trade Show learned about the SSA’s new Market Inventory Study, Self Storage: Analyzing the Competitive Landscape, and many took the opportunity to buy the study at the event. Don’t be the one who misses out on this valuable information. The publication provides an analysis of total self storage capacity in all 50 states. The study makes available, for the first time, total square footage per capita, per household and per business in all 3,140 counties in the nation. All of the information in this document is brand new and available only from the SSA: Members: $200; Non-members $350. To order go to www.selfstorage.org or call (888) 735-3784.
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The Argus Self Storage Sales Network b b b
PDQ Management Solutions PDQ
Management Solutions offers everything from full service property management
to consulting and target objective results based solutions. 941-922-3328 b b b Subscribe Today to the Market Monitor Newsletter! Make sure you stay on top of industry trends, self storage real estate opportunities and great events with this free must-read publication. The Market Monitor is mailed 10 times per year and arrives full of great information for your self storage business whether you are a current owner or a prospective buyer/developer. b b b “The Building Blocks of Self Storage”
Call 1-800-356-5824
or visit online
Washington Self Storage Association Conference and Tradeshow For more information visit www.wa-ssa.org.
Mississippi Self Storage Owner's Association Conference and Tradeshow For more information visit www.msssoa.org. Great
Lakes Self Storage Expo
"Building Your Future in Self Storage"
and Call 888-817-9422 for more information or visit www.betcoinc.com. List
your event for free... b b b |
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