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: March 2019

Date: 2/26/2019

The BSC Group recently arranged a $9.8 million line of credit (“LOC”) for an east-coast based institutional sponsor. The LOC is secured by four properties located in four separate markets throughout the United States. The 36 month, interest only non-recourse LOC features a competitive spread of 275 basis points over Libor, no non-use fee and is open to prepayment at any time. The loan was placed with a regional bank. Proceeds of the LOC with be used to expand the collateral, acquire new properties and fund JV Equity opportunities. Based on meeting certain loan metrics, the LOC can be expanded.