Two of our self-storage facilities were debt-free and we were interested in accessing equity for another project. Our goal was to end up with about $4 million for construction of a new property. We were very surprised that CMBS offered nonrecourse terms and a rate below anything else we had considered.
Having a competent broker like The BSC Group was critical, particularly during negotiations. We were new to CMBS, and The BSC Group walked us through, step-by-step. They were in constant contact with us, and excellently represented us throughout the process.
The BSC Group has been voted Best of Business - Finance for five years running by the readers of Inside Self-Storage.