Talonvest Capital Closes Bridge Loan with Metro Self Storage

Posted by Modern Storage Media on Dec 18, 2023 6:50:30 PM

Talonvest Capital, in partnership with Metro Self Storage, has closed a $10.2 million bridge loan with no lease-up covenants, a fixed interest rate, and interest-only payments for half the loan term. It was used for a Class-A facility in Monmouth Junction, N.J., with 74,794 net rentable square feet of storage and a mix of climate-controlled and drive-up units.

 

Talonvest secured the five-year, non-recourse financing through a life company with a team of Kim Bishop, Eric Snyder, Tom Sherlock, Mason Brusseau, and Lauren Maehler.