Talonvest Capital Secures $13.8 Million Construction Loan
October 13, 2023 — Irvine, CA
Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with their client Barone Management, are thrilled to announce the successful closing of a $13.8 million construction financing for the ground-up development of a state-of-the-art storage facility located in Syosset, NY. Upon completion in November of 2024, the facility will consist of two separate structures comprising 1,025 climate-controlled and 86 exterior drive-up units across 103,440 NRSF.
A commercial bank funded the 5-year construction loan with no repayment guarantee at an attractive spread. The loan was structured with four years of interest-only payments and the opportunity for a fifth year of interest-only.
John Silviano, Principal at Barone Management, commented, “The Talonvest team played a crucial role in ensuring the success of this transaction. Their deep financing experience and meticulous due diligence were instrumental in allowing us to receive proceeds on this financing, and we greatly appreciate their guidance and support.”
The Talonvest team members responsible for this transaction included John Chase, Kim Bishop, 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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