Beacon Realty Capital Closes Record Volume of Self-Storage Loan Transactions in 2007
Chicago, IL, January 31, 2008 --(
PR.com)-- Beacon Realty Capital, a commercial real estate financial services firm with a specialized self-storage lending group, announced it closed a record-setting $166,754,300 in self-storage property transactions in 2007, amidst a changing and challenging capital market environment.
The firm’s 55 separate transactions were for self-storage properties located in 22 states: Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, Montana, North Carolina, New Jersey, Ohio, South Carolina, Tennessee, Texas, Utah, Vermont, Washington and Wisconsin. Beacon’s self-storage team worked with 13 lenders from its nationwide network of capital sources to negotiate terms and complete these deals.
The financing structures for these debt and equity transactions – which individually ranged from $500,000 to $13.3 million – included permanent, mini perm, construction, earn out and bridge loans, as well as joint venture equity placements.
Beacon’s 2007 self-storage transaction volume reflected successfully closed financing and equity deals for the firm’s existing storage customer base, as well new customers.
Beacon Realty Capital
Beacon Realty Capital is a commercial real estate financial services company that arranges debt and equity financing for new and existing commercial and multifamily projects, advises on the acquisition and disposition of real estate assets, and provides commercial loan servicing for correspondents. Since its founding, the firm closed debt and equity financings totaling more than $5 billion.
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