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: May 2018

Date: 4/23/2018

The BSC Group has arranged a $23.5 million CMBS loan used to refinance two self storage properties located in New Orleans, Louisiana for a local sponsor. The non-recourse permanent loan has a low 10-year fixed rate that is interest only for the entire term. The sponsor refinanced an existing CMBS loan to capture trapped equity. Because the loan terms were so attractive the sponsor chose to access the trapped equity through a refinance as opposed to an outright sale of the assets.