The BSC Group recently secured two separate loans totaling $6.93 million for a Texas-based client. Loan proceeds were used to refinance maturing debt on the assets, which were located in Houston and Beaumont, TX. The new non-recourse loans both featured a seven-year fixed rate term with interest rates in the low four percent range. Both loans featured one year of interest only payments followed by a 27-year amortization as well as a flexible “step down” prepayment schedule that could be accelerated in the event of a future sale of the assets during the term of the loan. In addition, the loans offered a rate lock at application and closed on schedule with no changes from application within 45 days of starting the process.