IN THE NEWS
Talonvest Arranges $60M Refi on LI Storage Properties
December 16, 2020 – Connect Media
Talonvest Capital, Inc., headquartered in Irvine, CA, negotiated a $59,500,000 refinance bridge loan on behalf of LSC Development LLC. The financing was secured by three recently constructed, Class-A storage facilities in the Nassau County communities of Oceanside, Garden City and Hewlett, NY.
The non-recourse bridge loan was funded by a global investment management firm willing to offer 80%+ leverage based on the extensive experience of the sponsor, superior locations, and the quality of the assets. The loan included a 48-month term with extension options, and partial repatriation of ownership equity. View Full Story.
Talonvest Capital Secures $10M Loan for Business Park in Riverside
October 28, 2020 – MarketWatch
Talonvest Capital, Inc. and CIP Real Estate are excited to announce the successful refinance of Indiana Business Park, a six building, 149,800 rentable square feet, multi-tenant business park located off the 91 Freeway in Riverside, CA. With its offering of flexible units averaging about 1,250 SF, Indiana Business Park is a best in class facility uniquely positioned to deliver unit sizes in high demand in the Riverside submarket.
The non-recourse loan was funded with a sub 50% advance ratio by a regional bank and featured a 3.045% five-year fixed rate, two 12-month extension options, 4 years of interest only payments, no prepayment penalty and future fundings for additional capital improvements and leasing costs. View Full Story.
Talonvest Closes $22.1 Million Loan on Arizona Self Storage Property
September 29, 2020 – PR Radius Plus
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated a $22,100,000 bridge loan from a debt fund on behalf of 1784 Capital Holdings for the refinance of a newly constructed, state-of-the-art, self storage facility in Scottsdale, Arizona. The 90% leverage, non-recourse, cash-out refinance loan featured a 3-year term, interest only payments, two 1-year extension options, and prepayment flexibility. Shane Albers, CEO of 1784 Capital Holdings shared “The Talonvest team continues to deliver exceptional results for us through their knowledge, relationships, and passion for the business.” View Full Story.
Self-Storage Real Estate Advisor Talonvest Raises $50K for Ronald McDonald House Via Virtual Walkathon
September 9, 2020 – Inside Self-Storage
Self-storage finance and real estate firm Talonvest Capital Inc. raised more than $50K for Ronald McDonald House (RMH) this summer by participating in a simulated walkathon. The company’s contributions to the Virtual Walk for Kids, April 5 to June 30, generated $53,875 for the charity’s Orange County, Calif., chapter. Normally a live event, the annual fundraiser was transformed into an online experience as a result of the coronavirus pandemic.
Talonvest’s donation was raised through company clients and capital relationships. Givers included 1784 Capital Holdings, Bixby Land Co., CIP Real Estate, Clark Investment Group, Metro Self Storage, Newport National Corp., Simply Self Storage, SoCal Self Storage and William Warren Group. Talonvest’s ongoing efforts will support the RMH mission to provide a “home away from home” for families of children receiving treatment in Orange County hospitals. The funds will help the local house accommodate 80 guests for up to 65 days. View Full Story.
Talonvest Closes $8.64 Million 10-Year Interest Only Loan
July 29, 2020 – Business Insider
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated a CMBS refinance loan for Seaview Financial on Sundance Self Storage, a 96,765 NRSF facility located at 1351 Baseline Road in Roseville, CA. The $ 8,640,000 non-recourse loan featured ten years of Interest Only payments, cash out, and an upper 3.0% fixed rate loan. Built in 2003, the property consists of 688 drive-up storage units and offers 24/7 security with entry gate, door alarms, keypad entry, a complimentary moving truck, and tenant protection plans. It is well positioned on a primary east-west thoroughfare in Roseville, a rapidly growing suburban submarket within the Sacramento MSA. View Full Story.
Talonvest Closes Another $19.24 Million of Financing During Market Uncertainty
June 18, 2020 – SpareFoot StorageBeat
Self storage and commercial real estate advisor Talonvest Capital, Inc. negotiated the late-May closing of a $10,240,000 bridge loan on behalf of York RE Capital Partners with its institutional JV equity partner as well as the early-June closing of $9,000,000 in CMBS financing on behalf of an experienced private owner-investor.
The bridge loan provided capital for the acquisition at Certificate of Occupancy of a state-of-the-art, high-quality, climate-controlled storage facility totaling 83,009 NRSF located on a primary thoroughfare in Marietta, GA. Talonvest placed the 5-year loan with a community bank headquartered in Georgia and was able to successfully procure limited recourse and 4 years of interest only payments. Alex Meshechok, President of York RE Capital Partners, expressed “Talonvest was by our side throughout the process and delivered the right lender for our project despite the market chaos.” View Full Story.
Talonvest Closes $13.6 Million of Construction & Bridge Loans During the Market Turmoil
May 20, 2020 – Markets Insider
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated the mid-May closing of a $7,652,000 construction loan for Advantage Storage to develop a Class A storage facility at 15240 Coal Creek Road in Arvada, CO. Talonvest also successfully structured a $5,967,000 bridge loan for The William Warren Group’s late April acquisition of a recently constructed storage property at 5115 Englewood Road in Venice, FL.
Advantage Storage is developing a 73,750 NRSF, state of the art, storage property in the Denver area featuring both climate controlled drive-up units and indoor climate-controlled units, a key differentiator within the trade area. Talonvest placed the loan with a regional bank, headquartered in South Dakota. The 5-year, LIBOR based floating rate loan includes 36-months of interest only payments. After 18 months, the interest rate will be synthetically fixed utilizing a swap for the remainder of the term. Jeff Kinder, President of Advantage Storage, expressed “This was our first closing with Talonvest and they proved to us that their reputation for capital expertise in the storage industry is well deserved”. View Full Story.
Talonvest Closes 3 Loans Amid Market Upheaval
April 16, 2020 – SSA Magazine
Despite the turmoil in the capital markets, Talonvest Capital, Inc. closed a construction loan and two bridge loans for three clients in late March. The loans include:
– 1784 Capital Holdings procured a $14,500,000 construction loan for the development of a storage facility at 4725 East Dynamite Blvd. in Scottsdale, Arizona. The project will consist of 86,300 NRSF in 932 units.
– Strategic Storage Trust IV, Inc. closed a $31,542,500 bridge loan secured by four properties located in California, Arizona, Florida and North Carolina.
– The William Warren Group closed a $9.5 million bridge loan funded by a regional bank. The loan was secured by the StorQuest facility located at 4310 Beaverton Hillsdale Highway in Portland, Oregon. The newly constructed facility consists of 768 units in 69,106 NRSF of 100% climate-controlled space.
The Talonvest team members involved in the three assignments included Kim Bishop, Erich Pryor, Eric Snyder, Jim Davies, Tom Sherlock, David DiRienzo, Mason Brusseau, and Lauren Maehler. View Full Story.
Talonvest Finances $22.25 Million for Two Southern California Self Storage Facilities
March 10, 2020 – Yahoo Finance
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated non-recourse securitized loans for William Warren Group on their StorQuest Indio facility located at 83614 Dr. Carreon Blvd. and their StorQuest La Quinta facility at 47350 Dune Palms Road. The 10-year fixed rate loans with interest only payments for the full term were funded at a low 3% interest rate. The two facilities have a combined 218,000 net rentable square feet in 1,335 storage units. Additionally, there are 125 RV spaces at the Indio location. Both properties are conveniently located just off Highway 111, the main north/south arterial in the area, and are close to the Coachella Valley retail corridor. View Full Story.
Talonvest Obtains $16.5 Million Loan for Class A Facility in Norwalk, CT
February 20, 2020 – Yahoo Finance
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated a $16,486,000 refinance bridge loan for TVG Partners and their JV equity partner, Clark Investment Group, the largest provider of private equity capital for ground-up storage developments in the nation. Secure Self Storage, a recently constructed, state-of-the-art facility with 72,490 net rentable square feet across 766 climate-controlled units served as collateral for the loan. The property is located at 587 Connecticut Avenue, a high traffic corridor in Norwalk, CT.
Talonvest was able to structure a loan that returned all the owner’s original equity, while limiting recourse and providing additional time to achieve economic stabilization. The forty-two-month loan was priced at a low 200’s spread over LIBOR, while providing thirty-six months of interest only payments. A Midwestern based bank provided the loan. View Full Story.
Talonvest Negotiates $13.8 Million Loan for Seattle Property & Announces Recent Promotion of Erich Pryor
February 4, 2020 – MarketWatch
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, secured a $13,800,000 permanent loan on behalf of Catalyst Storage Investors, a property owner specializing in the U.S. self storage real estate market. The non-recourse, 10-year, fixed rate, full-term interest only loan funded by a CMBS lender was secured by a Class A asset located at 3736 Rainier Avenue South in Seattle, Washington. The facility was developed by the borrower in 2014 and features 851 climate-controlled units and 64,689 net rentable square feet. The property is conveniently located approximately 3.5 miles southeast of Downtown Seattle and benefits from its location on a major arterial road with high traffic counts as well as its proximity to multiple retailers including Walgreen’s, Safeway and Lowe’s Home Improvement. View Full Story.