fbpx
DEAL SPOTLIGHT

24-Day Closing! Self-Storage Acquisition and Construction in West Virginia

Terrydale Capital

03 Feb, 2022 · 2 min read

Today’s deal spotlight takes us to a self-storage commercial asset in Berkeley Springs, West Virginia. Situated in a tertiary market, the transaction carried its own set of challenges – ones Team TDC was confident in facing head-on.

What We Were Up Against

Terrydale was contacted late into the loan process and the borrower requested a quick 30-day close. Additionally, tertiary markets are generally riskier, making it difficult for many lending institutions to get comfortable with them.

What Our Team Helped Turn Around

Terrydale quickly laid the groundwork with a subsequent lending relationship while managing communications with the lender and borrower to ensure a smooth back and forth. In just 24 days, we were able to close a competitive high-leverage option that allowed the client to keep a larger amount of equity with the following terms:

  • A $6,900,000 Acquisition and Construction
  • 9.50% Fixed Interest Rate
  • 12-Month Loan Term
  • Full-Term Interest Only
  • 85% LTC

In Closing

For the best chance of closing a real estate financing deal on your terms, look no further than Terrydale Capital. Our team consistently goes above and beyond to secure the best possible refinancing terms for our clients amidst lending restrictions, market volatility, and a lack of experience. Whatever you need, we close the gap.

Want access to real estate opportunities you won’t find anywhere else? Check out www.terrydalelive.com.

Want to receive Weekly Market Updates, Deal Spotlights, Off-Market Opportunities, and Referral Rewards such as a Peloton?

More Deals and Updates

$1.6M Student Housing Acquisition in Boston

$1.6M Student Housing Acquisition in Boston

DEAL SPOTLIGHT $1.6M Student Housing Acquisition | Boston, MA17th November 2022 · 3 min readToday’s Deal Spotlight centers on the acquisition of a student housing asset in Boston, Massachusetts. Because our clients were looking to increase the unit count, it was...

2022 Bridge Loan Rates vs. Conventional Loan Rates

2022 Bridge Loan Rates vs. Conventional Loan Rates

 MARKET UPDATES Bridge Loan Rates Vs. Conventional Loan Rates | 2022 ComparisonNovember 10th, 2022 · 3 min readFacing a volatile 2022 Commercial Real Estate market, we've put together visual representations of the average interest rates of bridge loans and...

Terrydale Capital Holiday Clothing Drive

Terrydale Capital Holiday Clothing Drive

Terrydale Capital is partnering with Mission Oak Cliff this holiday season!🎄 Mission Oak Cliff began in 1948 at  Cliff Temple Baptist Church by a staff member, Virginia Goslin. She established a food pantry in a church closet and as the years passed, the small pantry...

Loan Assumption Opportunities | Everything You Need to Know

Loan Assumption Opportunities | Everything You Need to Know

Learn The Time is Now For Assumption Loan Opportunities November 3rd, 2022 · 5 min readIn the current economy, financing the purchase of a commercial property can be difficult. Mortgage lenders are cautious about whom they lend money to, and now that is even more...

State of the Market | October 2022

State of the Market | October 2022

Market Updates Commercial Real Estate Market Update | October 2022October 27th, 2022 · 4 min readTerrydale Capital is actively providing capital solutions to our clients. We are constantly in discussion with our capital market resources and identifying new resources...

Steps of the Commercial Real Estate Closing Process

Steps of the Commercial Real Estate Closing Process

Learn Steps of the Commercial Real Estate Closing ProcessOctober 20th, 2022 · 7 min readA commercial real estate closing is a complex, multi-step process that can take months in totality. One of the reasons why a cre transaction might take longer is because one of the...

$2.9M Land Refinance in Leander, Texas

$2.9M Land Refinance in Leander, Texas

DEAL SPOTLIGHT $2.9M Land Refinance | Leander, Texas20 October 2022 · 3 min readToday’s Deal Spotlight takes us over to Leander, Texas, for the refinance of a land asset. While one of our more straightforward deals, some previous work with this client played a big...

4-Unit Retail Cash-Out Refinance in Dallas, Texas

4-Unit Retail Cash-Out Refinance in Dallas, Texas

DEAL SPOTLIGHT 4-Unit Retail Cash-Out REFI | Dallas, Texas13 October 2022 · 3 min readToday’s Deal Spotlight highlights the cash-out refinance of a 4-unit retail CRE asset in Dallas, Texas. During market uncertainty with increasing interest rates, our client wanted to...