The BSC Group recently closed a $6.3M fixed rate permanent loan for an Arizona based sponsor.
The loan proceeds were used to refinance a newly developed, multi-story self-storage facility in suburban Phoenix. The new loan retired the developer’s construction debt and provided a fixed interest rate under 3% for 10 years, with interest only amortization for the entire term of the loan. The non-recourse loan was closed in a small balance loan program that provided streamlined processing and low closing costs to the borrower.
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, with a special emphasis on the self-storage asset class.