March 11, 2020
Irvine, CA-based Talonvest Capital has secured $22.25 million in financing for the William Warren Group on two Coachella Valley self-storage facilities. The 10-year fixed rate loans with interest-only payments funded at a 3% interest rate.
Located at 83614 Dr. Carreon Blvd. in Indio and 47350 Dune Palms Rd. In La Quinta, the facilities offer 218,000 net rentable square feet in 1,335 storage units, including 125 RV spaces at the Indio location. Both properties are located just off Highway 111, the main north/south arterial in the area, near the Coachella Valley retail corridor.
Talonvest’s Kim Bishop, Eric Snyder, Lauren Maehler, and David DiRienzo represented William Warren Group.
Happy with the results, William Warren Group President Clark Porter shared, “Talonvest successfully negotiated with the lender to break the floor rate stated in the loan application, and that effort will save us over $330,000 during the term of the loan.”
For comments, questions or concerns, please contact Chris Egger