The BSC Group recently closed a $5.1M fixed rate permanent loan for a Colorado based institutional sponsor. The loan proceeds were used to acquire a 2 property, multi-state self-storage portfolio consisting of more than 87,000 rentable square feet and more than 700 units in two states. The new loan was underwritten at 59.5% LTV and a 10-year fixed rate term, with an interest rate in the mid-3% range. The non-recourse loan features 60 months of interest only payments followed by a 30-year amortization schedule.
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.