$5M Self-Storage Refinance in Lexington, North Carolina
8 September 2022 · 3 min read
Today’s Deal Spotlight takes us to Lexington, North Carolina, and centers on the $5 million refinance of a self-storage real estate asset. Closing a deal on a facility across the country can be a source of added stress. Luckily our client had us keep things running smoothly on both sides.
What We Were Up Against
Our client’s preferred deal involved some difficult asks in the current market, including a competitive interest rate, and cash-out on an all-cash purchase to smooth the construction of additional units once signing was complete. The distance between the borrowing and lending parties also posed some potential communication issues.
What Our Team Helped Turn Around
With the goal of minimizing ineffective communication, Terrydale Capital laid the groundwork for an ongoing relationship with the lending group and negotiated a competitive interest rate per our client’s priority list. We also put together the necessary comps and reports to ensure the loan would close with the cash needed for expansion, and delivered a swift close on the following terms:
- A $5,038,709 Refinance
- 5.23% Fixed Interest Rate
- 5-Year Loan Term
- 24 Months Interest Only
- 75% LTC
When it comes to commercial real estate financing, Terrydale Capital is the number one partner and advocate an investor can have on their side. We prioritize competitive terms and client success regardless of deal size and complexity and elevate the resources and decision-making processes available to new and experienced investors.
Want exclusive opportunities to boost your current portfolio? Visit terrydalelive.com.
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