October 13, 2016 Comments Off on Talonvest Arranges Multi-State 21-Property Self Storage Loan Views: 229 California, California News, Orange County, West

Talonvest Arranges Multi-State 21-Property Self Storage Loan

Irvine, CA-based Talonvest Capital, Inc. orchestrated a competitive bid for a $58-million loan secured by a portfolio of 21 properties located in California, Texas, Tennessee and Wisconsin. The financing was completed with a large, national bank on behalf of Devon Self Storage and its institutional JV equity partner.

The three-year balance sheet loan was priced at Libor plus 2.75%. The loan includes interest only payments for the term, partial releases, no prepayment penalty after eighteen months, extension options, and a creative interest hedging structure that allowed the borrower to save money.

Devon Self Storage’s Ken Nitzberg says, “This was a complex transaction that required a very experienced broker.”

Talonvest’s team that negotiated and structured the loan included Eric Snyder, Kim Leslie, Tom Sherlock and Jim Davies.

Connect with Devon Self Storage’s Nitzberg

Connect with Talonvest’s Snyder

For comments, questions or concerns, please contact Dennis Kaiser

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