Talonvest Arranges $300 Million Bridge Lending Facility
July 12, 2022 — Irvine, CA
Talonvest Capital, Inc. and Store Space Self Storage are pleased to announce the closing of a $300 million bridge lending facility negotiated to support the recently announced strategic partnership between Store Space and a Canada-based global real estate company. The venture is capitalized to build a $1 billion portfolio of institutional quality self storage assets across the United States.
The loan facility, funded by a British universal bank, includes an accordion feature to increase the facility to $500 million, a low SOFR-based floating rate during the 3-year term, and two 12-month extension options. Additional benefits negotiated include earn-out advance opportunities and interest-only payments for the life of the loan.
“Talonvest’s long-standing and deep relationship with the lender’s vice chairman was invaluable in getting this facility closed,” said Chris Harris, CEO of Winter Garden, FL-based Store Space. The Talonvest team members responsible for this assignment included Thomas Sherlock, Eric Snyder, Jim Davies, and Ivan Viramontes.
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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