The American Spectrum Realty, Inc real estate investment, management and leasing company headquartered in Houston, Texas, announced today that American Spectrum Realty Management, LLC (“ASRM”) was successful in refinancing the loan for Fort Worth Northwest Self-Storage and the fort Worth Northwest is a 69,275 square foot, 563 unit facility, located on Ephraim Avenue and operates under ASRM’s 1st American Storage brand.
And When ASRM began managing the property in January of 2010, occupancy was severely low and the loan was fast approaching maturity and the ASRM was able to negotiate a one year extension with the lender in an attempt to refinance the loan in to through 1st American Storage’s cost-efficient branding, aggressive marketing strategies and streamlined operations, Fort Worth Northwest was able to significantly increase occupancy by 29 percent, grow revenue, decrease expenses and therefore, increase NOI.
A efforts increased the appraised value of the property and allowed ASRM to successfully negotiate a new loan with C III Commercial Mortgage to transaction closed on Thursday, March 8, 2012 and reduced the property’s interest rate by nearly 50 basis points and the ASRM provides creative solutions to outperform the market and grow the value of each asset under management of our vast experience and market insight provides a strategic, proactive, long term solution to investment challenges to the ASRM offers a turn-key approach that is committed to maximizing financial performance.
And When ASRM began managing the property in January of 2010, occupancy was severely low and the loan was fast approaching maturity and the ASRM was able to negotiate a one year extension with the lender in an attempt to refinance the loan in to through 1st American Storage’s cost-efficient branding, aggressive marketing strategies and streamlined operations, Fort Worth Northwest was able to significantly increase occupancy by 29 percent, grow revenue, decrease expenses and therefore, increase NOI.
A efforts increased the appraised value of the property and allowed ASRM to successfully negotiate a new loan with C III Commercial Mortgage to transaction closed on Thursday, March 8, 2012 and reduced the property’s interest rate by nearly 50 basis points and the ASRM provides creative solutions to outperform the market and grow the value of each asset under management of our vast experience and market insight provides a strategic, proactive, long term solution to investment challenges to the ASRM offers a turn-key approach that is committed to maximizing financial performance.
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