$36,800,000 | The Jenkins Organization

Property: Ten separate development / redevelopment sites
Location: Five Texas cities (major metropolitan areas)
Capital Type: Equity
JV Provider: Talonvest’s Exclusive Partner for Long Term Oriented Storage Development (a Midwestern family office)

Client Benefits:

  • The equity partner has a very long-term investment horizon
  • Attractive promoted interest based on a 10% co-investment
  • Lucrative business plan to refinance at stabilization, repatriate equity/preferred return, and then continue ownership at the promoted percentages
  • Client provides property management for a market rate fee
  • Equity provider’s depth and breadth of self storage development/operating experience resulted
    in enhancements to the building plans