Self Storage Refinance

[Matthew Turcotte]

I have a portfolio of 6 self storage facilities that are currently financed with a local bank. The current arrangement of our mortgages is that every 5 years the interest rate will reset. We currently have a 20 year term. 

I am looking to refinance our portfolio and lock in a long term interest rate (ideally for 20 years). I have reached out to a variety of direct lenders, CMBS lenders, etc. and the majority have said that they can only fix the interest rate for 10 years. Does anyone know of any lenders that would consider a long term interest rate lock? Is that something that is unusual in the self storage industry? I greatly appreciate it.