21 Dec 2021
Irvine, CA – December 21, 2021 – Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, secured $111,500,000 of permanent financings for several self storage clients in recent weeks. The loans were funded with national banks and secured by assets located in Texas, California, Illinois, and Nevada. The closed loans included:
$60,000,000 portfolio loan for six properties in TX, CA, and NV totaling 542,483 net rentable square feet in 3,886 units. The 7-year loan with 5 years of interest only payments is floating over BSBY with a starting all-in rate below 2%s.
$34,000,000 refinance loan secured by a 143,409 net rentable square foot storage facility in Richmond, CA with 1,114 non-climate-controlled units, 468 climate-controlled units and 224 drive-up storage units. The cash-out refinance loan featured 10-years of interest only payments.
$10,000,000 ten-year, full-term interest-only, fixed rate refinance loan for a state-of-the-art self storage facility built in 2017 and consisting of 80,555 net rentable square feet across 584 storage units in the San Antonio, Texas MSA.
$7,500,000 refinance loan secured by a Class A self storage facility located just west of Chicago in suburban Elmhurst, IL. The 10-year non-recourse loan features an interest only payment period and an attractive fixed rate.
Ricky Jenkins, President of The Jenkins Organization, commented that “Talonvest was very thorough in surveying the lending market and then diligently represented us throughout the loan due diligence and closing.” William Warren Group President, Clark Porter, added, “Talonvest’s value goes beyond sourcing and structuring a good loan, they work until the very end to generate better results.” Talonvest team members involved in these financings included Kim Bishop, Eric Snyder, Erich Pryor, Mason Brusseau, and Ivan Viramontes. Jim Davies from Talonvest noted “Our team is navigating a rapidly changing financial landscape and our clients have shared their appreciation for Talonvest continuing to successfully deliver capital in a better way.”
About Talonvest Capital, Inc. Talonvest Capital is a boutique real estate firm providing advisory services to self storage and commercial real estate investors, owners, and developers nationally. The firm utilizes a unique, collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to deliver better capital solutions for its clients.
