Storage Business Owners Alliance
(248) 254-9000
Login  |  Join Now!
Twitter - Follow us on Twitter! Facebook - Look us up on Facebook! LinkedIn - We’re Linked! YouTube -
Featured Deal of the Month: December 2016
Posted 12/8/2016
print this article print    Email A Friend email    Share with Twitter   Share with Facebook   Share with LinkedIn   Share with   Share with Newsvine   Share with Reddit   Share with StumbleUpon   Share with Technorati  

The BSC Group negotiated a $2.9 million loan with a regional bank for the acquisition of an underperforming self storage facility in Atlanta. The five-year floating rate loan has an interest rate of Libor plus 310 bps with a 24 month interest-only period and a 30 year amortization thereafter. The loan can be converted to a fixed rate at anytime during the term. The 65% LTC loan will be used to acquire, address deferred maintenance and re-brand the property. During the properties stabilization period the loan is recourse. However, once stabilized the loan becomes nonrecourse, a structure the sponsor required based on its corporate structure.

Featured Vendors:
Contact us
News - Storage Business Owners Alliance

Storage Business Owners Alliance
30665 Northwestern Highway
Suite 100
Farmington Hills, MI 48334 USA

Phone: (248) 254-9000
Fax: (248) 538-4327