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.