Talonvest Closes $22.1 Million Loan for Scottsdale, AZ Property

The 90% leverage, non-recourse, cash-out refinance loan featured a 3-year term, interest only payments, two 1-year extension options, and prepayment flexibility. Shane Albers, CEO of 1784 Capital Holdings shared “The Talonvest team continues to deliver exceptional results for us through their knowledge, relationships, and passion for the business.”

The class-A, Life Storage branded property features 82,115 net rentable square feet comprised of 854 climate controlled self storage units of which 86 units are drive-through storage units on the first floor of the facility. Situated adjacent to Paradise Valley, the most affluent community in Arizona, the property also benefits from being located within 1-mile of two of Scottsdale’s largest and oldest master-planned communities.

The Talonvest team responsible for this assignment included Jim Davies, Erich Pryor, Mason Brusseau, Lauren Maehler, and Tom Sherlock.

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 nationally. The firm utilizes a unique, collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to deliver better capital solutions for its clients.

CONTACT: Contact: 
Amanda Waite
Talonvest Capital, Inc.
949.648.0337
awaite@talonvest.com

Prev Post

Armada Hoffler Properties Provides September Rent Collection Update

Next post

Asia Capital Real Estate Provides $49.1M Refinancing to Millennium at Hometown in North Richland Hills, TX
img

1Reason Real Estate News Wire

Related posts

Howard Hughes Holdings Inc. Reports Third Quarter 2024 Results

Strong demand for MPC residential land and impressive financial performance across the portfolio solidify positive full-year outlook with upgraded guidance in all segments

THE WOODLANDS, Texas, Nov.

Continue reading
by 1Reason Real Estate News Wire

Elme Communities Announces Third Quarter 2024 Results

BETHESDA, Md., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter ended September 30, 2024:

Financial Results

Net loss was $3.0 million, or $0.03 per diluted shareNAREIT FFO was $20.5 million, or $0.23 per diluted shareCore FFO was $20.7 million, or $0.23 per diluted shareNet Operating Income (NOI) was $38.8 million

Operational Highlights

Same-store multifamily NOI increased by 2.3% compared to the prior year quarterEffective blended Lease Rate Growth was 2.1% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (1.5)% and effective renewal Lease Rate Growth of 4.5%Average Effective Monthly Rent Per Home increased 2.4% compared to the prior year quarter for our Same-Store PortfolioSame-store Retention was 66%, up 5% compared to the prior year quarterSame-store multifamily Average Occupancy was 95.2% during the quarter, down 0.2% compared to the prior year quarter and up 0.6% compared to the prior quarter.
Continue reading
by 1Reason Real Estate News Wire

UMH PROPERTIES, INC. SURPASSES 1,000 SELF-STORAGE UNITS

FREEHOLD, NJ, Nov. 04, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) announced that on November 1, 2024, the company closed on an acquisition of a self-storage facility adjoining one of UMH’s communities in Anderson, Indiana.

Continue reading
by 1Reason Real Estate News Wire

Compare listings

Compare