Doesn't anyone out there have any concerns about all this short term debt? The LOC and the Term Note are quickly coming due!! Why doesn't mgmt roll some of this into amortizing long term mortgages? Is it difficult to obtain this kind of financing on mini warehouses?
I for one think they will get the financing they need. I think a term note will be required by the lender.
The Street.com article dated 8/30 highlighted the issue as a 2/01 maturity which is plenty of time. If interest rates start downward as many people think it may be that SSS is going to have the last laugh not because they were smart by a 1/2 not doing some lockins last year (they should have) but because they may have gotten thru an interest rate cycle with minimal cost to FFO which is just plain lucky.