Talonvest Capital Negotiates $9.75 Million Life Company Bridge Loan
December 21, 2023 — Irvine, CA
Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with their client, Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), are pleased to announce the closing of a $9,750,000 bridge loan financing for the acquisition of an approximately 760 unit, climate-controlled self storage facility in Tamarac, FL with approximately 69,000 net rentable square feet.
The newly constructed facility is situated adjacent to West McNab Road and benefits from exposure to 38,500 vehicles daily. The location’s strong demographics are anticipated to aid in the successful lease-up and stabilization of the property with ongoing development projects and the construction of 239 single-family homes within a 3-mile radius.
Talonvest negotiated a 45-day early rate lock for the four-year, non-recourse financing. The loan offered a fixed rate, no lease-up covenants, and two years of interest-only payments. A life company provided the funding. The Talonvest team members responsible for this transaction included Britt Taylor, Eric Snyder, Ivan Viramontes, 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.
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