Talonvest Structures $10 Million Bridge Loan for New Jersey Property
August 14, 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 company that intends to qualify as a real estate investment trust sponsored by an affiliate of SmartStop® Self Storage REIT, Inc. (“SmartStop”), is pleased to announce the successful closing of a $10 million loan for a self storage facility located in Eatontown, New Jersey. The facility consists of approximately 730 interior, climate-controlled units, totaling approximately 65,800 net rentable square feet, and services affluent communities in the heart of Monmouth County’s primary retail corridor.
The bridge loan was secured through a unique life company and has no ongoing loan covenants. The four-year non-recourse loan included interest-only payments for half the loan term and a sliding scale prepayment structure to enhance flexibility for the borrower.
The Talonvest team members responsible for this transaction included Eric Snyder, Britt Taylor, Mason Brusseau, 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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