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

The BSC Group Recently Arranged a $6.75 Million Loan For a Georgia-Based Sponser

Date: 3/21/2019

The BSC Group recently arranged a $6.75 million CMBS loan for a Georgia-based sponsor used to refinance two self storage properties . The ten year, fixed-rate loan was amortized over 30 years with three years of interest-only payments. The sponsor, who acquired the properties over the past four years, was able to repatriate over $3 million of equity above their basis due to the significant improvement in cash flow during their ownership tenure. In this case a refinance of the asset proved to be superior to a sale and the owner was able to retain the asset while generating similar return of equity on a more tax friendly basis.