Storage Business with an Apartment

Posted By: swiggles

Storage Business with an Apartment - 05/19/17 08:23 PM

I am reviewing a refinance of a storage unit facility. The loan is in the name of an LLC. There is an apartment over the office area where one of the principals on the loan resides full time. The loan is a 5 million dollar loan. Do I put this on my LAR???
Posted By: raitchjay

Re: Storage Business with an Apartment - 05/19/17 08:51 PM

I doubt it, but it would depend on what the mixed-use test reveals.
Posted By: raitchjay

Re: Storage Business with an Apartment - 05/19/17 08:52 PM

At least, that's how i would handle it. I'm not in the "mixed-use doesn't apply to refinances" camp and never have been.