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Featured Deal of the Month: December 2017
Posted 11/13/2017
Author Shawn Hill
 
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The BSC Group recently closed a $4.4 million non-recourse loan for a southeastern-based sponsor to refinance a self storage facility located in Tennessee. After failing to secure a long-term fixed rate refinance earlier in the year for their expiring CMBS loan, the borrower was forced to place bridge debt on the asset to avoid a maturity default. Displeased with their previous advisor, the sponsor reached out to The BSC Group to assist. The BSC Group was able to quickly provide several long-term options for the sponsor and close within 60 days on a 10 year fixed-rate CMBS loan with a rate of 4.4% and interest-only payments for the full 10-year term while utilizing the existing third-party report vendors to minimize processing time and costs.

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Storage Business Owners Alliance
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