Colorado Springs, CO (PRWEB) June 07, 2014
AC Self Storage Solutions, LLC successfully replaced a high interest rate loan on AMS II Colorado Springs Investments, LLC commonly known as "American Mini Storage" at 3150 Boychuck Avenue in Colorado Springs, CO. The replacement loan, a CMBS mortgage, allowed a cash-out refinancing and a significant reduction in interest rate.
General terms of the loan include a fixed 4.43% interest rate, 7-year term, and 3-years of interest-only payments. The loan amortizes the final 4 years on a 30-year amortization schedule. The interest rate spread between the previous loan and the current represents almost 2.6% of interest rate reduction.
"Interest rates remained compelling as we closed this deal on-time and as-planned," remarked Troy Downing, CEO, AC Asset Management, LLC
About AC Self Storage Solutions
AC Self Storage Solutions, LLC (“AC SSS”) has offices in Carlsbad, CA and Newport Beach, CA. AC SSS is an owner, operator, and servicer of Self Storage commercial real estate across the United States. In addition to acquisitions, AC SSS also offers asset management services and has over a million square feet of Self Storage under management. Visit http://www.acselfstorage.com.
AMS II Colorado Springs Investments, LLC
3150 Boychuk Avenue
Colorado Springs, CO 80910