Self-Storage Acquisition in Sherman, Texas
Terrydale Capital
Oct 6, 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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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.
