Beacon Realty Capital Closes $15 Million Self-Storage Acquisition Transaction

Chicago, IL, July 11, 2008 --(PR.com)-- Beacon Realty Capital, a commercial real estate financial services firm with a specialized self-storage financing group, arranged $15 million in variable-rate acquisition financing for seven Storage Inn self-storage facilities in the Columbus, Ohio area. The Sterling Group of Mishawaka, Ind. acquired the property portfolio that totals 412,000 square feet and 3,400 storage units.

Beacon marketed the transaction to several lending sources and secured a three-year interest only variable rate loan with an aggressive rate for its client using private money execution.

“Our company has historically focused on multifamily properties, however, we recognized an opportunity several years ago to expand into the self-storage asset class. This was our first major self-storage transaction and we hope to acquire other well-positioned storage properties later this year using Beacon’s financing expertise and assistance,” says Larry Swank, president and chief executive officer of The Sterling Group.

Beacon Realty Capital
Beacon Realty Capital is a Chicago-based national commercial real estate financial services company that arranges debt and equity financing for new and existing projects, advises on the acquisition and disposition of real estate assets, and provides commercial loan servicing for correspondents. Since its founding, the firm has closed debt and equity financings totaling more than $5 billion.

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