Real estate finance company Trinity Street Capital Partners is expanding its construction-lending program for self-storage and other commercial real estate to cover loan amounts from $25M to $250M. It’ll now offer nonrecourse financing up to 85% of cost for multi-family, industrial and self-storage projects and up to 65% of cost for office, retail and hospitality properties, according to a press release.
The program will focus on the top 200 U.S. Metropolitan Statistical Areas. Interest rates will start at 30-day LIBOR plus 2.5%.
Trinity’s lending program has gained traction in the last several months, as traditional banks have concerns about general economic conditions or are over exposed to certain property or loan types, according to a spokesperson. The company is winning major deals nationwide as it marries its construction lending with its bridge and permanent finance programs, the release stated.
Related:Self-Storage Building Supplier MakoRabco Now Offering Portable-Storage Units
Trinity Street focuses on nonrecourse, high-leverage senior and subordinate debt, and preferred equity with investments starting at $10 million for industrial, manufactured-housing communities, office, retail and self-storage assets nationwide. It also offers bridge and permanent finance programs.
Source: PR Newswire, Trinity Street Capital Partners Announces the Expansion of its Non-Recourse Construction and Permanent Finance Program
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