The BSC Group, a Chicago based self-storage and commercial real estate financing advisor, recently closed a $4.22M non-recourse loan for a large sponsor used to acquire a self-storage property in Houston, TX. This fixed rate, non-recourse loan was placed with a national bank and featured a 5 year term with a 30 year amortization, along with 24 months of interest only payments. The 61% LTV loan was rate locked at application at a rate of 3.33%. The BSC Group continues to close loans through the pandemic and is extremely active in the self storage sector, having arranged more than $160MM in financing for the product type YTD 2020.
About The BSC Group
The BSC Group, LLC (http://thebscgroup.com) was formed in 2009 and provides mortgage brokerage, financial consulting, and loan workout solutions to commercial real estate property owners. Utilizing market expertise and a robust capital source network, the firm arranges debt and equity financing for commercial real estate investments nationwide, with a special emphasis on the self-storage asset class.