The BSC Group recently arranged a $1.2MM loan with the SBA for a West Coast sponsor to refinance a self-storage facility in Texas. The sponsor owned the property for two years and proceeds were used to pay off a seller financing note and provide working capital for the sponsor. The loan was underwritten to 85% LTV and provided substantially more dollars compared to quotes solicited from several local lenders. In addition, the 25-year loan featured an interest-only period and included a competitive adjustable interest rate which was fixed for periods of five years each.
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About The BSC Group
The BSC Group, LLC (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. They also provide a special emphasis on the self-storage asset class.