SOURCE: Talonvest Capital, Inc.

Talonvest Capital, Inc.

January 20, 2017 00:27 ET

Talonvest Structures Four More Self Storage Construction Loans

IRVINE, CA--(Marketwired - January 20, 2017) - Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, recently structured and negotiated over $36 million of construction loans for various self storage owners. The financing assignments included a $13.35 million ground up construction loan for the development of a 101,000 square foot self-storage facility on a 2.39 acre site in the greater Los Angeles area; a $10.15 million construction loan for the development of a 100,000 square foot self storage facility in the San Diego area; $6.8 million of construction financing for the conversion of a former grocery store into a two story, Class A self storage facility in Carrollton, Texas; and a $6.4 million construction loan to convert a former warehouse into a 72,700 square foot climate controlled self storage facility in Denver, Colorado.

The $13.4 million financing was negotiated with a Midwest based bank on behalf of World Class Capital Group. The four-year loan included an extension option, as well as a structured recourse burn down schedule. Nate Paul, President and CEO of World Class Capital Group, shared that "Talonvest's expertise in construction lending and their national lender relationships were instrumental in us getting the best loan for our project." Talonvest Capital Principal Jim Davies noted, "We were pleased to work with such an innovative sponsor and more importantly, to deliver the combination of leverage with attractive pricing for the development of Santa Clarita Self Storage."

A national banking firm provided the $10.15 million San Diego area construction loan to William Warren Group on a four year, interest only basis with two one-year extension options. The Texas and Colorado conversion loans were structured with an Asian based financial services group on behalf of Los Robles Capital Management. Keith Greengrove, a Managing Principal of Los Robles, stated that "the Talonvest team was a pleasure to work with and their efforts were critical to our successful closings." Talonvest negotiated the two individual loans on a non-recourse basis, each with a three-year term and two, one-year extension options. Partial release options were structured into the Carrollton, TX property loan since it has existing retail pads. The Talonvest team involved in the financings included Davies, Eric Snyder, Tom Sherlock, Kim Leslie, and Erich Pryor.

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 principals of the firm have over 80 years of combined experience structuring loans and equity investments for office, industrial, retail, and apartment properties throughout the United States. In addition, they have established a dominant niche position in financing self-storage properties across the country.

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