Stabilized self-storage facilities at 65% LTV can exit bridge debt into permanent CMBS non-recourse financing with fixed rates typically priced 6.75%–9% for stabilized assets, with the strongest sponsors at 60% LTV reaching 6.25% for 10-year terms. Facilities with 85%+ physical occupancy, diversified unit mixes, and 12 months trailing NOI qualify for express conduit underwriting and the tightest available spreads.
Written by Ed Freeman, Capital Advisory — PeerSense
Exit your self-storage bridge loan into permanent CMBS at 65% LTV. Non-recourse, fixed rates from approximately 6.25% on the strongest stabilized deals (typical 6.75%–9%), 10-year terms. Stabilized facilities with 85%+ occupancy fast-tracked.
Minimum 30-35% equity required. Self-storage operators with stabilized facilities at 85%+ occupancy, holding bridge or construction debt they need to refinance into permanent non-recourse terms.
LTV Target
65%
Est. Rate Range
6.25% – 11%+ (typical 6.75% – 9%)
Term
5-10 years fixed
Recourse
Non-recourse
DSCR
1.30x minimum
Closing Speed
30-45 days
Min Loan Size
$3M
Loan Products
CMBS
This financing is right when your self-storage facility has completed lease-up, achieved 85%+ physical occupancy for at least 6-12 months, and generates NOI supporting 1.30x+ DSCR. Bridge loans in the 8-14% range are designed to be temporary, and every month you hold bridge debt beyond stabilization is lost income. CMBS provides the lowest-cost permanent debt for self-storage with non-recourse terms banks cannot match. If your facility is still in lease-up below 80%, continue the bridge or explore a rate cap extension until occupancy stabilizes.
If your existing CMBS loan is approaching maturity rather than a bridge exit
Learn moreIf your self-storage facility includes warehouse or flex components
Learn moreIf your self-storage facility has retail or office components
Learn morePeerSense pre-underwrites every deal before presenting it to our institutional capital sources. With 500+ lender relationships and live market rate intelligence, we match your self-storage deal with the right capital source — right now.
No upfront retainer · Fee at closing only · Complimentary initial consultation
Written by Ed Freeman, Capital Advisory — PeerSense. Updated March 2026.
Disclaimer: The information on this page is provided for educational purposes only and does not constitute financial, legal, or investment advice. Rates, terms, and availability are subject to change based on market conditions, property characteristics, and borrower qualifications. The rate ranges cited reflect approximate market pricing as of March 2026 and may not reflect current conditions at the time of reading. PeerSense is a capital advisory firm, not a lender. We do not originate, fund, or service loans. All financing is provided by third-party lenders subject to their own underwriting criteria and approval processes. Borrowers should consult with qualified financial and legal professionals before making any financing decisions.