|
1/24/17
|
Talonvest Capital Inc recently structured and negotiated over $36 mil of construction loans for various self-storage owners. The financing assignments included a $13.35 mil ground up construction loan for the development of a 101k sf self-storage facility on a 2.39-acre site in the greater Los Angeles area; a $10.15 mil construction loan for the development of a 100k sf self-storage facility in the San Diego area; $6.8 mil of construction financing for the conversion of a former grocery store into a two-story, Class A self-storage facility in Carrollton, TX; and a $6.4 mil construction loan to convert a former warehouse into a 72.7k sf climate-controlled self-storage facility in Denver, CO.
The $13.4 mil L.A. financing was negotiated with a Midwest based bank on behalf of World Class Capital Group for the development of Santa Clarita Self-Storage. The four-year loan included an extension option, as well as a structured recourse burn down schedule.
A national banking firm provided the $10.15 mil 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. The deal consisted of 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.
|
|
Return to the Archive page
|
|
|
|
|