Talonvest Capital Secures Major Financing for Storage Project
Talonvest Capital Achieves Significant Financing Milestone
Talonvest Capital, Inc., a leading self-storage and commercial real estate advisory firm, has successfully arranged a $13 million permanent loan intended for refinancing a self-storage facility. This development showcases Talonvest's strong capabilities in generating financing solutions that meet the unique needs of their clients.
Details of the Financing Arrangement
The non-recourse loan was secured for Storage Village, a reputable owner/operator with numerous facilities along the Baltimore-Washington corridor. Over the past 25 years, Storage Village has established itself as a trusted provider of storage solutions, known for its commitment to integrity and community service.
Facility Highlights
The self-storage property encompasses an impressive layout with 556 climate-controlled units, 188 non-climate-controlled units, along with 5 designated parking spaces for vehicle storage. All these facilities contribute to a total of 82,205 net rentable square feet, making it a valuable asset in the area.
Optimal Loan Terms and Conditions
Talonvest structured a 12-year fixed-rate loan backed by a life company lender, offering favorable terms that align with the borrower’s long-term vision. The financing arrangement includes interest-only payments during the initial four years, a competitive fixed-interest rate locked at a 200-basis-point spread over the 12-year U.S. Treasury, along with flexible prepayment options and no cash management stipulations.
Client Feedback on the Financing Process
Michael Goldberg, Principal of Storage Village, expressed satisfaction with Talonvest’s approach, stating, "Talonvest delivered a financing solution that aligned perfectly with our long-term vision for this facility. Their team’s expertise in self-storage financing and commitment to client success made this process seamless and efficient.” Goldberg praised the communication skills of Kim Bishop, highlighting her instrumental role in finalizing the transaction.
The Talonvest Team Behind the Success
The successful arrangement involved a dedicated team at Talonvest Capital, including John Chase, Kim Bishop, Mason Brusseau, and Lauren Maehler, who collectively brought their unique skills and insights to ensure this deal went through smoothly.
About Talonvest Capital Inc.
Talonvest Capital specializes in providing tailored advisory services to clients across various sectors, including industrial, self-storage, multifamily, office, and retail property owners. Their unique boutique approach leverages the company's extensive experience in capital programs and active involvement during the closing process to deliver exceptional solutions. With over 40 years of collective expertise, Talonvest incorporates a wealth of knowledge from prior experience in lending and managing institutional equity.
Continuing Commitment to Client Success
By remaining connected and engaged throughout their assignments, Talonvest enhances the chances of delivering satisfactory results, making them a preferred partner for property owners looking to navigate the capital markets efficiently.
Frequently Asked Questions
What was the amount secured by Talonvest Capital?
Talonvest Capital secured $13 million for the refinancing of the self-storage facility.
Who is the borrower represented by Talonvest?
The borrower is Storage Village, a seasoned owner/operator in the storage industry.
What are the main features of the storage facility?
The storage facility includes 556 climate-controlled units, 188 non-climate-controlled units, and 5 vehicle storage spaces.
What were the favorable terms of the loan?
The loan featured a 12-year fixed rate, interest-only payments for the first four years, and no cash management requirements.
Who were the key team members involved in this financing?
The Talonvest team included John Chase, Kim Bishop, Mason Brusseau, and Lauren Maehler, who worked collaboratively to facilitate the transaction.
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