Storage Business Owners Alliance
30665 Northwestern Highway  Suite 100
Farmington Hills, MI 48334 USA
Toll Free: (248) 254-9000
(248) 254-9000
Phone: (248) 254-9000
Fax: (248) 538-4327
Email: info@thesboa.com

Featured Deal of the Month

Date: 7/25/2016

The BSC Group announced the closing of a $3.0MM bank loan used to refinance a self storage property located in the Northeast. The seven year fixed rate loan had a 25 year amortization and an interest rate in the mid 3% range. The BSC Group worked closely with the owner to identify a balance sheet lender that would allow the owner to refinance the low leverage asset with longer-term permanent debt, thereby mitigating interest rate risk, while also maintaining borrowing capacity on the asset in the form of a future second funding should the borrower identify future investment opportunities. The borrower was pleased to receive adequate loan proceeds to replace the maturing CMBS loan, fund all closing costs, and obtain a structure with flexible prepayment and the ability to add secondary debt in the future.