IN THE NEWS
Talonvest arranges nearly $17.5 million loan for portfolio purchase
January 25, 2019 – Sparefoot Storage Beat
As lenders cautiously assess risk in a somewhat uncertain economic environment, Talonvest Capital Inc. recently secured an almost $17.5 million loan for acquisition of a three-facility self-storage portfolio in Rhode Island. Irvine, CA-based Talonvest, a self-storage and commercial real estate advisory firm, arranged the $17.455 million loan for an affiliate of Dallas, TX-based Rosewood Property Co. It’s a 65% non-recourse, fixed-rate lending package. The loan — with interest-only payments spanning the entire 10-year term — backed the purchase of three Self Storage Center properties in Rhode Island. The facilities encompass 1,416 units and 97 rentable parking spaces in 177,575 net rentable square feet. Talonvest team members who worked on the Rosewood loan include Erich Pryor, Jim Davies, Terra Hendrich and Tom Sherlock. View Full Story.