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Featured Deal of the Month: April 2017
Posted 4/4/2017
Author Devin Huber
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The BSC Group recently arranged $15 million in loan proceeds used to refinance a maturing CMBS loan on a property located in Santa Monica, CA for a California based sponsor. The new non-recourse loan featured a 10-year fixed interest rate in the low 4% range and a 30-year amortization. The 50% LTV loan was placed with a CMBS lender who outbid many life insurance companies struggling with the high loan per square foot and low debt yield given the location and quality of the real estate. Additionally, at this low leverage point the CMBS market was able to match the interest rates offered by the life insurance companies.

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