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Self Storage in the Central United States... Read our Broker Roundtable of our Central States Brokers. This article will appear in the "Real Estate Roundup" column in the October issue of Inside Self Storage. Argus broker affiliates share their thoughts on the regional self-storage market. Full Article (requires Adobe Acrobat Reader)
Be sure to visit us! Booth #615 Argus Broker Affiliates will be available to answer questions about all of our current listings. |
Congratulations to Argus Broker Affiliates Joan Lucas of Joan Lucas Real Estate Services Craig Self Storage in Craig, CO! ~~~~~~~~~~~ Richard Arnold of Arnold/Forcum & Associates Pad 'N Lock Mini-Storage in Springfield, OR! ~~~~~~~~~~~
Relative calm presided in the capital markets during the month of August, contrasting the volatility experienced in June and July when the 10-Year Treasury rate shot up by 1.25%. Widespread belief is that the downward spike in rates in early June was just that – a spike. The 10-Year Treasury has stabilized in the 4.50% range for the time being as the economy shows mixed signs of recovery. Despite being 22 months into recovery by technical definitions, drab unemployment statistics continue to be a drag on the economy as business expansion lags economic growth. The bond markets have reacted to this by trading in a more narrow range in August as the market discerns just how quickly the economy will begin firing on all cylinders again. The good news is that spreads/margins have remained constant over the past 60-90 days in the 160 basis point range for 75% LTV transactions, and are as low as they have been for several years. This is due to the maturation of the Commercial Mortgage Backed Securities market and continued investor demand for CMBS issuances. It does not appear that spreads will widen in the near term. What impact does all of this have on fixed mortgage rates, and how does the current environment compare to that of the last few years? Mortgage rates for 75% loan-to-value financings are currently 6.00%, and roughly 5.50% for 60% loan-to-value transactions. Fixed rate mortgages were at this level one year ago, when the 10-Year was 4.25% and spreads were at 180 basis points – for a coupon rate of 6.05% at 75% leverage. The data from August 2001 shows that coupon rates were approximately 6.75%, when the 10-Year was 4.80% and spreads were in the 190 basis point range. Final analysis: Mortgage rates for self-storage facilities have clearly risen above the historical lows earlier this summer, and while that window of opportunity may be gone forever, rates are still attractively priced in the broader perspective. Many analysts expect a gradual increase in the 10-Year Treasury as the economic recovery gains momentum. For those waiting out the market in anticipation of lower rates, the best time to lock in a fixed mortgage rate may be right now. For more information on financing, contact Eric Snyder, Buchanan Storage Capital, at 1-800-675-1902 or via e-mail at eps@buchananstreet.com.
SiteLink, by SMD Software, Inc., has emerged as one of the most popular, powerful programs for storage management. User-friendliness, complete audit trails, and accounting links make SiteLink a favorite with both single- and multi-store operators. SiteLink’s e-commerce module includes electronic billing, on-line account management, and electronic invoicing. SMD works closely with clients and delivers quality support. Responding to over 2,100 users’ needs resulted in industry-first features like the Revenue Manager for yield maximizing and sound financial reporting. On-screen video and training reduces time to learn the program and identifies opportunities for improvement. Software has never been easier to learn! Contact Bob Myers or Markus Hecker at 919-562-6711, send an e-mail to info@smdsoftware.com or visit their website at www.smdsoftware.com.
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Alert on Self Storage is published by the Argus Self Storage Sales Network. Questions? Comments? Please contact Melanie Aaron at melanie@argus-realestate.com or call 1-800-55-STORE. |
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