Talonvest Negotiates Bridge Loan for SSGT III

Talonvest Capital, Inc., along with their client, Strategic Storage Growth Trust III, Inc. (SSGT III), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., have announced the closing of a $9.75 million bridge loan financing for the acquisition of an approximately 760-unit, climate-controlled facility in Tamarac, Fla., with approximately 69,000 net rentable square feet.

Talonvest negotiated a 45-day early rate lock for the four-year, non-recourse financing. The loan offered a fixed rate, no lease-up covenants, and two years of interest-only payments. A life company provided the funding. The Talonvest team members responsible for this transaction included Britt Taylor, Eric Snyder, Ivan Viramontes, and Lauren Maehler.