1031 Exchange Self-Storage Acquisition in Claremore, OK
Terrydale Capital
Aug 30, 2023 3 Min read
When it comes to maneuvering on a strict time table, especially with a 1031 exchange, we at Terrydale Capital are ready to smoothly meet every deadline. Today’s Deal Spotlight centers on a 1031 exchange transaction performed on a self-storage asset in Claremore, Oklahoma.
What We Were Up Against
The borrower came to Terrydale Capital seeking competitive terms with a 1031 exchange transaction. During the transaction, the seller of the property experienced some personal issues which needed to extend the contract timing. This extension had the potential to subject our clients to potential rate hikes. This pushed us into action in order to rectify these potential roadblocks.
How Terrydale Rose to Meet the Challenge
Our team put on their negotiating hats and were able to successfully negotiate multiple rate locks with the lending group. We were able to take advantage of the extra time provided from the seller and the subsequent rate decrease, to get the clients an even better rate than previously provided. We were able to secure the following terms.
- $808,984 Acquisition
- 5.93% Interest Rate
- 10-Year Loan Term
- 25-Year Amortization
- 39% LTV
In Closing
Terrydale Capital is posed to tackle any kind of deal that comes through our doors, challenges and all. We pride ourselves on being able to garner success for our clients and secure the best terms by utilizing our wide breadth of lender and industry connections as well as taking advantage of market opportunities when they come. When you need a partner to go to bat for your 1031 exchange, the Team at Terrydale is the right choice, and now it is easier than ever to have the Team in your corner with Terrydale Live. 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.
