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: September 2017

Date: 8/4/2017

The BSC Group announced robust financing transaction volume during the summer of 2017, evidenced by more than $50 million in closed loans for clients during June and July. During this time the firm closed five deals with CMBS lenders totaling more than $20 million in volume enabling clients to acquire properties or refinance maturing debt. One representative example includes a recently closed $5.75 million CMBS loan used to refinance maturing debt on a self storage property in Alabama. The new non-recourse loan featured a ten-year term with a 30-year amortization and a low fixed interest rate of 4.52%. The loan was closed exactly as applied for with zero changes between application and funding. This transaction provided the borrower with a "cash out" of over $2 million on a tax free basis, which will be used for future acquisitions. In addition the firm closed several loans with banks, allowing clients the flexibility needed to develop new properties or acquire sites in lease up or expansion. The firm was also voted Best Finance Broker by readers of Inside Self Storage magazine, a distinction it has received six times since the firm was founded in 2009.