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Featured Deal: August 2018

Posted: 7/18/2018
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The BSC Group has been busy closing loans for their national self storage clients. The firm recently arranged a $1.9 million non-recourse CMBS loan for a midwest based client; the loan featured a 10-year fixed rate under 5% and a 30-year amortization. This loan was placed in a small balance lending program that offers fixed legal and streamlined closing costs, thereby enabling the client to obtain all of the benefits of a CMBS execution with transaction costs that were commensurate with the deal size. The firm also closed a $4.55 million construction financing package for a national sponsor with a midwest regional bank. Loan proceeds will be used by the borrower to convert a two-story building in Indianapolis to 90,000 net rental square feet of new, climate-controlled storage. The seven-year financing package limited the borrowers recourse to 25% and included 48 months of interest-only financing, followed by a three-year mini-perm option, in order to construct and stabilize the project.

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