PRESS RELEASE

Talonvest Capital Negotiates $20,000,000 Bridge Loan

September 18, 2024 — Newport Beach, CA

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with Platinum Storage Group and their equity partner are pleased to announce the successful closing of a $20 million loan for their newly developed, state-of-the-art self-storage facility located at 10 Hegenberger Court in Oakland, California. 

With a pending loan maturity,  the borrower’s refinance goals included paying off the existing construction loan, maximizing interest only to accommodate the remaining lease-up, and resizing of interest reserves to carry the project through to stabilization. Talonvest successfully navigated the cautious lending environment and created a competitive market by focusing efforts on lenders looking to bolster their self storage portfolio.  A debt fund provided a non-recourse, 3-year floating rate, bridge loan with the opportunity for interest rate step down and two, twelve-month extension options.  Additionally, the lender offered an earn-out to increase the loan proceeds to $20 million upon specific performance hurdles. 

Genevieve Sigmund, President of Platinum Storage Group commented, “Talonvest’s unwavering dedication and expertise in navigating a challenging lending environment enabled us to secure a cash-neutral refinance on favorable terms, even amidst tighter credit conditions.”  Daniel “Skip” Elefante, Chief Executive Officer, added, “We not only established a strong new lending relationship, but also gained a competitive bridge lending partner for future investments nationwide. Talonvest exceeded our expectations by negotiating an exceptional loan  that included an earnout feature that allows us to unlock additional capital to maximize performance of our asset.”  The Talonvest team members responsible for this transaction included David DiRienzo, Britt Taylor, Philippe Castillo, and Lauren Maehler.

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 throughout the United States.  The firm utilizes a collaborative team approach, emphasizing the team member’s institutional knowledge and expertise gained over the past four decades to structure superior capital solutions for its clients.