DEAL SPOTLIGHT

Self-Storage Acquisition in Sherman, Texas

Terrydale Capital

6 OCT, 2021 · 2 min read

Today’s Deal Spotlight looks at the loan acquisition of a self-storage property in Sherman, Texas. While several factors presented major concerns for our client, Terrydale Capital did what we do best – got to work to mitigate any issues and ensure a timely close.

What We Were Up Against

The borrower was concerned not just with the potential timing of an SBA loan, but whether they would have to deal with a high rate. They had also utilized a trust gift for their down payment: an action subject to strict SBA regulations and policy.

What Our Team Helped Turn Around

Team TDC began negotiations as soon as possible, keeping our client’s concerns of timing, rate, and the use of their trust gift front and center. Within 38 days, we closed on our SBA transaction and successfully negotiated for the use of the trust gift plus the following terms:

  • A $980,000 Acquisition
  • 4.00% Interest Rate
  • 25-Year Loan Term
  • 25-Year Amortization with 70% LTV
  • 3% SBA Fee Waiver and 3-Month P&L Waiver

In Closing

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

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