The BSC Group is pleased to announce the closing of a $5.0MM CMBS loan that was used to refinance a self-storage property in Chandler, AZ. The borrower was able to capitalize on the low interest rate environment by locking into a 10 year fixed rate nonrecourse loan at 3.69%. The loan was underwritten at ~60% loan to value and included interest only payments for the full term of the loan. This loan was used to retire construction debt on a recently constructed property that leased to stabilization, allowing the sponsors to recapture the majority of their equity to be redeployed for future investment. Read more
Featured Deal: February 2020
