Included $11.1M for a Recently Developed Austin, TX Property
IRVINE, Calif., Feb. 11, 2021 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, closed an $11,100,000 bridge loan on behalf of All Stor Woodland, Ltd, an affiliate of Endeavor Real Estate Group, the largest commercial real estate firm in Central and South Texas. The recently constructed property opened in April 2019 and features two floors of ground level access as it is built into a hillside, a feature providing tenants with greater convenience while providing for rental rate premiums. The non-recourse, 5-year loan with two years interest only payments and a step-down prepayment schedule was provided by a life insurance company lender and included reserves to facilitate economic stabilization of the asset.
David Roberts, Chief Financial Officer of Endeavor Real Estate Group, stated “This financing represents our first experience working with the Talonvest team. Their management of the loan approval process, due diligence, and closing process exceeded our expectations.” The Talonvest team members responsible for this assignment included Eric Snyder, Kim Bishop, David DiRienzo, Lauren Maehler, and Jim Davies.
In additional, Talonvest recently structured and closed a $16,100,000 bridge loan for the acquisition of a Philadelphia property, $18,100,000 of bridge financing for a three-property portfolio with assets in Florida and Washington, and a $9,000,000 bridge loan secured by a Santa Rosa, CA asset.
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