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Talonvest Closes $22.1 Million Loan on Arizona Self Storage Property
September 29, 2020
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated a $22,100,000 bridge loan from a debt fund on behalf of 1784 Capital Holdings for the refinance of a newly constructed, state-of-the-art, self storage facility in Scottsdale, Arizona. The 90% leverage, non-recourse, cash-out refinance loan featured a 3-year term, interest only payments, two 1-year extension options, and prepayment flexibility. Shane Albers, CEO of 1784 Capital Holdings shared “The Talonvest team continues to deliver exceptional results for us through their knowledge, relationships, and passion for the business.”
The class-A, Life Storage branded property features 82,115 net rentable square feet comprised of 854 climate controlled self storage units of which 86 units are drive-through storage units on the first floor of the facility. Situated adjacent to Paradise Valley, the most affluent community in Arizona, the property also benefits from being located within 1-mile of two of Scottsdale’s largest and oldest master-planned communities.
The Talonvest team responsible for this assignment included Jim Davies, Erich Pryor, Mason Brusseau, Lauren Maehler, and Tom Sherlock.
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 nationally. The firm utilizes a unique, collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to deliver better capital solutions for its clients.