Flint, Michigan (Detroit) – Self Storage Facility
Client: A commercial real estate owner with a portfolio of self-storage properties.
Transaction: Acquisition loan for self storage facility with 266 units and 35,000 square feet located in Flint, Michigan near Detroit.
Challenge: Client needed to close quickly as property was sold out of a bankruptcy and trustee wanted a quick sale. Buyer wanted to take advantage of substantial discount offered.
Opportunity: Sherpa Capital Group LLC was able to provide financing within 2 weeks and borrower had significant cash equity into the transaction.
Action: Sherpa Capital Group LLC provided a first mortgage and borrowers exit strategy was to stabilize property with some improvements and refinance with an SBA lender within 12 months.
Transaction: Acquisition loan for self storage facility with 266 units and 35,000 square feet located in Flint, Michigan near Detroit.
Challenge: Client needed to close quickly as property was sold out of a bankruptcy and trustee wanted a quick sale. Buyer wanted to take advantage of substantial discount offered.
Opportunity: Sherpa Capital Group LLC was able to provide financing within 2 weeks and borrower had significant cash equity into the transaction.
Action: Sherpa Capital Group LLC provided a first mortgage and borrowers exit strategy was to stabilize property with some improvements and refinance with an SBA lender within 12 months.
