The BSC Group LLC, a Chicago-based commercial real estate financing advisor for self-storage owners, released its performance results for the first half of 2011.
The company originated more than $75 million in total transaction volume, including $58 million in debt and equity capital to support these deals.
"We are very pleased with the firm's performance and the level of activity in the market through the first half of 2011," said Devin Huber, a principal. "We have also expanded our team and office space during this time period to ensure we are well positioned to meet the future demands of our client base."
With the dramatic upheaval in the financial industry during the past three years, The BSC Group has expanded its reach in the loan-workout and distressed-asset arena, while remaining committed to assisting clients obtain the best possible terms for their financing transactions. By keeping the focus on its clients' needs, the firm was able to recognize the demand in the marketplace and capitalize on its extensive network of lender and client relationships to identify distressed asset opportunities, including note acquisitions and recapitalization transactions.
"The recapitalization of distressed transactions has been a primary focus of our business over the past several years," said Shawn Hill, a principal. "With the return of the capital markets, as well as the new changes to SBA [Small Business Administration] lending guidelines, we are excited to find that the debt and equity capital necessary to bring these transactions to fruition is now readily available in the marketplace.”
The company is also encouraged by the reemergence and level of activity in the Commercial Mortgage-Backed Security (CMBS) market, added Huber. "The second half of 2011 is looking very promising given we currently have a pipeline of more than $80 million in CMBS loans under application at fantastic rates and terms."
The BSC Group closed its first SBA 7a transaction in the second quarter of 2011, and has an active pipeline of smaller borrowers looking to access SBA loans. The variable rate acquisition loan enabled a first-time owner to purchase a self-storage facility in a tertiary market, and demonstrates the BSC Groups’ continued commitment to work with borrowers of all types.
Formed in 2009, The BSC Group LLC offers financial and loan advisory, mortgage brokerage and loan-workout solutions to commercial real estate property owners and investors, with a special emphasis on the self-storage market. Through its capital source network, the company provides clients with access to debt and equity financing for commercial real estate investments nationwide.