Talonvest Capital Negotiates $60.6 Million of Storage Financings

Posted by MiniCo on Jan 6, 2014 12:00:00 AM

Talonvest Capital Negotiates $60.6 Million of Storage Financings

Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor serving clients throughout the U.S., recently structured, negotiated, and closed self storage acquisition and refinance assignments totaling over $60 million.

Security Self Storage hired Talonvest to procure $42,050,000 in financings for a Kansas portfolio, a Texas portfolio, and stand-alone assets in Colorado and Georgia. The non-recourse, fixed rate loans provided cash out and were funded by a U.S. based bank. Steve Clark commented, “Talonvest has decades of experience in self storage finance, but they really differentiate themselves through personal attention and the trusted advisor relationships built by the principals of the firm.” Talonvest principals Tom Sherlock and Jim Davies were responsible for the successful placement and funding of these loans.

Zeune Construction & Development hired Talonvest to represent their interests in a self storage financing, after having successfully collaborated on a portfolio last year. This assignment was for a $4,425,000 loan secured by a Michigan facility. Eric Snyder, a Talonvest principal, orchestrated a competitive bid on behalf of the client, which resulted in a maximum leverage loan with an aggressive debt yield.

Simply Self Storage also came back to Talonvest with another portfolio acquisition financing assignment, for the 21st Century portfolio with assets in New Jersey and Maryland. $14.2 million of financing was funded on a 5-year term with a fixed rate and interest only payments. Sherlock and Davies succeeded in negotiating the full term interest only provision plus a relatively high loan to value ratio, advantageous cash management provisions, and partial releases. Sherlock commented, “The increased level of competition for permanent loans is evidenced by the fact that the lender who financed this borrower’s prior portfolio acquisition didn’t even make it to the top four finalists for this loan.” Davies added, “The competition resulted in millions of additional loan dollars with a 0.25% lower rate and a longer interest only period than originally offered by the lender for the prior portfolio acquisition.”

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 principals of the firm have over 75 years of combined experience structuring loans and equity. For more information, please visit: https://talonvest.com/

(via MarketWired)