The BSC Group is pleased to announce the closing of a 19.9MM CMBS loan on a 5 property self storage portfolio located in the Northwest. The 70% LTV loan was structured with a 10 year term, a 30 year amortization and a rate in the low 4% range. The sponsor was able to refinance their existing debt and extract over 5MM in equity at close bringing the new loan amount significantly above their existing basis. The cash out was the motivating factor to refinance.
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.