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Featured Deal of the Month
Posted 8/12/2016
Author Devin Huber
 
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 The BSC Group announced the closing of a $2.6MM bank loan used to refinance a self storage property located in Michigan. The 7 year fixed rate loan carries a 25 year amortization and an interest rate of 3.9%. The BSC Group worked closely with the owner to identify a non CMBS lender which offered at a long term fixed rate. The nonrecourse loan is 50% LTV, the rate was locked at application and includes a flexible step down prepayment schedule. This transaction is an example of how aggressive lenders will be when the metrics of the transaction are compelling.

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