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Talonvest Negotiates $13.8 Million Loan for Seattle Property & Announces Recent Promotion of Erich Pryor
February 4, 2020
Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, secured a $13,800,000 permanent loan on behalf of Catalyst Storage Investors, a property owner specializing in the U.S. self storage real estate market. The non-recourse, 10-year, fixed rate, full-term interest only loan funded by a CMBS lender was secured by a Class A asset located at 3736 Rainier Avenue South in Seattle, Washington. The facility was developed by the borrower in 2014 and features 851 climate-controlled units and 64,689 net rentable square feet. The property is conveniently located approximately 3.5 miles southeast of Downtown Seattle and benefits from its location on a major arterial road with high traffic counts as well as its proximity to multiple retailers including Walgreen’s, Safeway and Lowe’s Home Improvement.
Harrell Beck of Catalyst Storage Partners shared “Talonvest has successfully negotiated both life company and securitized long-term fixed rate loans for us. Their broad reach into the capital markets has created financial benefit for us once again.” The Talonvest team responsible for this assignment included Kim Bishop, Jim Davies, Tom Sherlock, David DiRienzo, and Lauren Maehler.
In addition, Talonvest is also pleased to announce the recent promotion of Erich Pryor to Senior Relationship Manager within the firm. “Erich’s efforts to expand the firm’s capital relationships and his impact in the structuring and negotiating of capital on behalf of clients for commercial and storage properties continues to grow.” noted Talonvest Principal 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.