The BSC Group announced the closing of a $1.9MM CMBS loan used to acquire a mixed use, self-storage and retail property located in North Carolina. The 10 year fixed rate loan included 2 years of interest-only payments, followed by a 30 year amortization, and an interest rate in the low 3% range.
This 65% LTV non-recourse loan was a challenge in the post Covid environment as over 33% of the income was related to the retail tenants, however the BSC Group was able to structure around the retail component and to get the lender comfortable with the transaction.
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.