Chicago, IL, July 23, 2012 --(PR.com
)-- The BSC Group, LLC
, a leading commercial real estate financing advisor and provider of debt and equity capital solutions for self-storage owners, announced it arranged $15.125M in financing on behalf of Storage Pros Management LLC for 7 self-storage properties in two separate portfolio transactions in Michigan.
“The BSC Group was responsible for sourcing and negotiating the financing on these acquisitions, which total 450,000 rentable square feet,” said Devin Huber, a principal with the firm. “The capital markets are extremely competitive at present, and through a combination of CMBS and balance sheet executions we were able to provide the client with very compelling debt solutions to enhance their value-add investment objective.”
“Our ability to secure long-term, fixed rate financing in the mid-4s provides incomparable long-term value to investors,” said David Levenfeld, CEO of Storage Pros Management LLC. SPM, a mid-sized owner-operator, also offers comprehensive third-party self storage property management services, including receivership.
The 7 properties were acquired in two recent portfolio transactions totaling $19.5 million. The acquisitions make Storage Pros the largest owner-operator of self-storage facilities in the state of Michigan, with 37 facilities under management. All seven properties have been rebranded to the Storage Pros Self Storage trade name.
“The BSC Group provided valuable advice to guide us through a complex deal and introduce new lending relationships,” said Levenfeld. “In the end, the execution was flawless.”
About The BSC Group
The BSC Group, LLC was formed in 2009 and offers financial and loan advisory, mortgage brokerage and loan workout solutions to commercial real estate property owners and investors, with a special emphasis on the self-storage market. Through its capital source network, The BSC Group provides clients with access to debt and equity financing for commercial real estate investments nationwide. For more information visit www.thebscgroup.com.