Talonvest Arranges $45M Refinance for California Self-Storage Asset

Talonvest Capital has arranged a $45 million senior bridge loan to refinance a recently completed self-storage facility owned by 1784 Holdings, a national self-storage owner and developer.

The financing supports an institutional-quality, climate-controlled property in Goleta, Calif., within the supply-constrained Santa Barbara submarket. The facility features 95,523 net rentable square feet across 972 storage units and is managed by Extra Space Storage. According to Talonvest, the property has experienced strong leasing momentum and is positioned to benefit from Goleta's high barriers to entry, affluent customer base, and limited competing supply.

The financing structure was designed to maximize loan proceeds while maintaining long-term flexibility and favorable exit economics. The bridge loan includes a three-year initial term with two one-year extension options, providing the borrower with additional time to execute its lease-up strategy.

As part of the transaction, Talonvest negotiated servicing-fee savings and reduced the potential prepayment penalty, lowering potential exit costs by more than $400,000. The firm said the financing structure enhances the sponsor's financial flexibility while supporting the property's continued stabilization and long-term investment strategy.

"Talonvest understood our objectives from the outset and delivered a financing solution that achieved the right balance of proceeds, flexibility, and attractive exit economics," said Shane Albers, CEO of 1784 Holdings. "Their creativity, persistence, and disciplined execution produced an excellent outcome for 1784 Holdings."

The Talonvest advisory team included Tom Sherlock, Kim Bishop, Nathan Lefevre, and Mason Brusseau.

The transaction is one of several financings Talonvest has completed over the past 30 days. The company said it has closed more than $256 million in financing volume during that period across multiple lending partners