The BSC Group recently closed a $51.05M fixed rate permanent loan for an Illinois based institutional sponsor. The loan proceeds were used to acquire a 15 property, multi-state self-storage portfolio consisting of more than 730K rentable square feet and over 6,800 units across 8 states. The new loan was aggressively underwritten below an 8% debt yield on a stabilized basis and featured a 10 year fixed rate term, with an interest rate under 3%. The non-recourse loan features interest only amortization for the full term of the loan.
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.