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: November 2018

Date: 10/17/2018

The BSC Group recently arranged a $6.8 million partial recourse construction loan for a national sponsor. Loan proceeds will be used to construct a 115,000 square-foot self storage facility with more than 900 units in suburban Indianapolis. The loan featured a 48-month initial term with 36 months of interest-only payments and limited the guarantor’s recourse obligation to 25% of the advance upon completion, with a floating interest rate over LIBOR.