$3.2MM Storage Development | King’s Mountain, North Carolina
Terrydale Capital
Oct 17, 2023 3 Min read
In the midst of the difficult market acquiring competitive financing options for their commercial real estate investments. When our client came to us, they sought a creative team to help finance their self-storage development project. In today’s deal spotlight, we explain how our team put our creative minds to work on a self-storage asset and worked with our clients needs and prior relationships to provide the most competitive financing available.
What We Were Up Against
At the outset, the borrower needed between 24 to 36 months of interest only, which can be a challenge within itself depending on the deal. Additionally, the borrower has a pre-existing long-term relationship with a national bank. This made them weary of switching lenders due to this established relationship.
How Terrydale Met the Challenge
Through successful negotiations, we were able to secure a 36-month period of interest only. Additionally, our team managed communication between the lender and borrowers to ensure a timely close amidst the current market uncertainty. Ultimately we were able to secure the following terms:
- $3,200,000 Loan
- 9.50% Fixed Interest Rate
- 5-Year Loan Term
- 36-Months Interest Only
- 25-Year Amortization
- 65% LTV
In Closing
Despite a volatile market and changing lender criteria - Terrydale Capital is on top of every shift by using our collective knowledge acquired through hundreds of successful deals. No matter the difficulty or simplicity, Terrydale Capital’s commitment to our clients’ success will always put us one step ahead in the process of securing the most competitive financing available. Contact us today to see how our team can usher you to success.
Partner With Terrydale Capital for Your Debt Financing Needs
When it comes to debt financing, understanding the right timing, process, and options is crucial. At Terrydale Capital, we provide a comprehensive range of commercial loan solutions tailored to meet your business's unique needs.
Success!
Product has been created successfully!
Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
