April 13, 2020
Talonvest Capital, Inc. closed a construction loan and two bridge loans for three clients in late March. Three separate lenders were involved in providing the loans.
1784 Capital Holdings engaged Talonvest to procure a $14.5-million construction loan for the development of a state-of-the-art storage facility at 4725 East Dynamite Blvd. in Scottsdale. The project, located at the arterial gateway to the Tatum Ranch master-planned community and adjacent to destination retail sites, will consist of 86,300 net rentable square feet in 932 units.
Talonvest negotiated the non-recourse, four-year construction loan with a global commercial real estate firm. The loan included a 12-month extension option and no prepayment penalty.
Talonvest also closed a $31.5-million bridge loan secured by four properties located in California, Arizona, Florida and North Carolina, on behalf of Strategic Storage Trust IV, Inc. Additionally, a $9.5-million bridge loan was negotiated on behalf of The William Warren Group for a StorQuest facility in Portland, OR.
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