Loans

Talonvest Negotiates $111 Million of Perm Loans

Talonvest Negotiates $111 Million of Perm Loans
Written by Publishing Team

IRVINE, CA, December 21, 2021 (GLOBE NEWSWIRE) – Talonvest Capital, Inc. Ltd., a dedicated self-storage and commercial mortgage broker, has secured $111,500,000 in perpetual financing to several self-storage clients in recent weeks. The loans were funded by national banks and secured with assets located in Texas, California, Illinois, and Nevada. Closed loans included:

  • $60,000,000 loan portfolio for six properties in Texas, California, and Nevada totaling 542,483 rentable square feet in 3,886 units. The 7-year loan with 5 years of interest-only payments moves on BSBY at a starting rate of 2% s.
  • A $34,000,000 refinancing loan secured by a 143,409 lease-square-foot storage facility in Richmond, California with 1,114 non-climate-controlled units, 468 climate-controlled units and 224 operable storage units. The 10-year cash refinancing loan is distinguished from interest only payments.
  • A $10,000,000, ten-year, full-interest, fixed-rate refinancing loan for a modern self-storage facility built in 2017 comprising 80,555 rentable square feet across 584 storage units in San Antonio, Texas MSA.
  • A $7,500,000 refinancing loan secured by a Class I self-storage facility located just west of Chicago in the suburbs of Elmhurst, Illinois. The 10-year non-recourse loan features an interest-only repayment period and an attractive fixed rate.

“Talonvest has been very thorough in surveying the lending market and then seriously represented us throughout the loan due diligence and closing period,” commented Ricky Jenkins, President of Jenkins Organization. William Warren Group President Clark Porter added, “The value of TalonVest goes beyond sourcing and structuring good loans, it works to the bottom to deliver better results.” Talonvest team members involved in these funds have included Kim Bishop, Eric Snyder, Eric Pryor, Mason Bruso and Evan Veramonts. Jim Davies of Talonvest noted, “Our team is navigating a rapidly changing financial landscape and our clients have shared their appreciation for Talonvest’s continued successful delivery of capital in a better way.”

About Talonvest Capital, Inc.
TalonVest Capital is a boutique real estate firm that provides advisory services to self-storage, commercial real estate investors, owners and developers nationwide. The company uses a unique collaborative team approach, emphasizing institutional knowledge and experience gained over the past four decades by its team members, to deliver better capital solutions to its clients.


        

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