Chicago, IL, February 27, 2010: (PR.com) The BSC Group, a commercial real estate financing advisory firm that specializes in the self-storage industry, announced it formed a marketing alliance with 1st Service Solutions, Inc. to exclusively promote their loan restructuring services to storage owners and investors nationwide.
Based in suburban Dallas, 1st Service Solutions (www.1stservicesolutions.com) 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 restructurings and $1.7 billion in assumptions for clients.
The alliance was formed to help self storage property owners obtain lower interest rates, reduced monthly payments and modified loan terms for their distressed properties. To achieve these benefits, The BSC Group and 1st Service Solutions team members will create strategic workout packages, prepare clients for the workout process, and represent client interests during lender negotiations in order to support a continued financing relationship.
"Given our firms' respective experience and expertise in CMBS markets, there clearly is an overlap in our client and prospect profiles. This alliance presents an extraordinary opportunity to capitalize upon a cross-pollination of services that will provide both companies with additional business opportunities," says Shawn Hill, a BSC Group principal.
1st Services Solution's President and Chief Executive Officer Ann Hambly commented: "We are eager to build a presence in the self-storage marketplace through The BSC Group's networking and marketing support. Their principals' longstanding storage industry brand identity will be invaluable as we introduce our services to property owners and investors."
The BSC Group has been voted Best of Business - Finance for five years running by the readers of Inside Self-Storage.