$521,000 Self-Storage Acquisition | Cleveland, OK
Terrydale Capital
Mar 18, 2024 3 Min read
When it comes to financing in the commercial real estate space, we understand that not every deal is cut and dry. Some deals present their own unique challenges. Today’s deal spotlight centers on the acquisition of a self-storage asset in Cleveland, Oklahoma where first time storage buyers came to us with the confidence in us to help them successfully close.
What We Were Up Against
The borrower came to Terrydale Capital seeking financing for their first-time acquisition of a self-storage asset. The client initially came to us during the holiday season of 2023, historically Christmas and New Year’s intend to be a challenging time of year to connect with lenders. Additionally, the P&L’s and Rent Rolls were limited and what existed was hand-written by mom & pop owners.
How Terrydale Rose to Meet the Challenge
Our team sprang to action immediately and moved quickly to get the client a term sheet within 24-hours of taking the deal out to market. Additionally, we managed communication with both the borrowers and the lender to ensure a timely close amidst market uncertainties. Ultimately, we were able to secure the following terms:
- $521,000 Acquisition
- 7.79%Fixed Interest Rate
- 5-Year Loan Term
- 20-Year Amortization
- 75% LTV
In Closing
Whether it be a first-time investor or a seasoned veteran, it pays to be prepared when investing in commercial real estate, it pays to have the right team behind you. When you need a partner to go to bat for you to ensure all of your bases are covered, the Team at Terrydale is the right choice. Contact us today!
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.
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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.
