$2.25M Self-Storage Acquisition | Hope Mills, NC
06 October 2022 · 3 min read
Today’s Deal Spotlight centers on the acquisition of a self-storage commercial asset in Hope Mills, North Carolina. Unlike most of our deals, this one threw us curveballs closer to the end of the process. Fortunately for our client, our immediate response meant it did not fall through.
What We Were Up Against
Due to our client’s time frame, this deal had to be fast-tracked while securing a competitive interest rate. Due to the volatile market, the original terms no longer aligned with the client’s goals, with this transpiring 6 days prior to the closing date.
What Our Team Helped Turn Around
In just seven days, Terrydale Capital was able to complete a transfer to an alternative lending group with terms our client were happy with. We also negotiated a favorable post-transfer rate with the promise of additional transactions and a sustained relationship with the lending group. Despite the tight crunch, we closed on schedule with the following terms:
- A $2,258,543 Acquisition and Construction
- 5.52% Fixed-Interest Rate
- 5-Year Loan Term
- 25-Year Amortization with 70% LTV
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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