Talonvest Delivers $10.1 Million Bridge Loan for Washington Property
June 8, 2023 — Irvine, CA
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, along with their client, Crescendo Properties, is pleased to announce the successful closing of a $10.1 million loan for a self storage facility located in Vancouver, WA. The property consists of 747 climate-controlled units and 160 drive-up units across 89,860 net rentable square feet and benefits from a dense and growing population that has increased by 26% since 2000.
The bridge loan was secured through a privately held investment management firm. The five-year loan offers an attractive LTV and interest-only payments for the initial three years of the term. Through negotiations conducted by the Talonvest team, a favorable rate lock was achieved upon execution of the term sheet.
Jordan Mills, Crescendo’s Vice President of Acquisitions, commented, “The Talonvest team delivered exceptional value. Their strong relationships with lenders and negotiating skills resulted in great loan terms for us, and their proactive approach ensured a streamlined and efficient process.”
The Talonvest team members responsible for this transaction included David DiRienzo, Kim Bishop, 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.
Subscribe to stay up to date on current trends in the perm, bridge, and construction lending market based on our real deal experiences and discussions with banks, life companies, debt funds, private lenders, and CMBS lenders.