Chicago, IL, March 18, 2010: (PR.com) The BSC Group, a commercial real estate financing advisory firm, announced Noel Cain has joined the firm as a vice president to help support the company's recently formed alliance with 1st Service Solutions, a Dallas-based loan restructuring organization.
Building upon his previous experience in underwriting, cash flow modeling, due diligence and site analysis, Cain will advise BSC Group clients on debt and equity financing and loan workout services for all commercial property types, including self storage.
The BSC Group announced on February 24, 2010 that it formed a marketing alliance with 1st Service Solutions to exclusively promote their loan restructuring services to self storage owners and investors nationwide.
1st Service Solutions was the country's first firm to serve as a borrower advocate in loan restructuring and assumptions for commercial mortgage-backed securities (CMBS) borrowers. Since its formation in 2005, the firm has resolved more than $2 billion in loan restructures and more than $1.7 billion in assumptions for clients.
"We are pleased to welcome Noel to our company. His expertise in supporting BSC Group clients with loan workout solutions will be particularly applicable as commercial real estate conditions and CMBS markets stabilize in coming years," says Devin Huber, a BSC Group principal.
Cain's professional experience includes loan and credit underwriting positions at LaSalle Bank and Dominion Bond Rating Service. Most recently, he worked in the Chicago loan production office of Dexia Real Estate Capital Markets. He earned a bachelor's degree in Real Estate and Urban Land Economics from the University of Wisconsin-Madison and is a member of the Wisconsin Real Estate Alumni Association.
The BSC Group has been voted Best of Business - Finance for five years running by the readers of Inside Self-Storage.