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 2019

Date: 4/24/2019

The BSC Group recently closed a $71 million CMBS loan for a Midwest-based sponsor. Loan proceeds were used to acquire a 21-property self storage portfolio spread across four states. The low leverage loan was less than 65% of acquisition cost and aggressively underwritten with a ten-year fixed rate term that included five years of interest only payments, followed by a 30-year amortization. The all in rate was locked under 4.15% demonstrating the low interest rate environment. Self storage remains in favor on Wall Street and it is a great time to be a borrower.