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Sovran Self Storage Inc. Message Board

  • reitsbyziggy reitsbyziggy Sep 30, 2000 10:36 AM Flag

    LOC and Term Loan

    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?

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    • 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.

 
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