Talonvest Arranges $80 Million Financing for Eight-Property, Southeast Self-Storage Portfolio
25 December 2024 - 8:55AM
Talonvest Capital, Inc., a boutique self-storage and commercial
real estate advisory firm, is pleased to announce that it has
arranged $80 million in non-recourse financing on behalf of Rialto
Capital Management, LLC for a multi-state self-storage portfolio
with approximately 705,000 net rentable square feet operating under
the Your Storage Units brand. The portfolio consists of assets
located across Florida (5), South Carolina (2), and Georgia (1)
which benefit from strong population growth, high visibility, easy
access, and high average household income.
The two-year, non-recourse bridge loan was provided by a
well-established private commercial real estate credit manager and
features three one-year extension options with interest-only
payments during the original term and the first two extension
options. A competitive bid process drove floating rate pricing to
an attractive level and resulted in a long window to prepay without
penalty. Additional flexibility was created for the borrower via
individual release provisions for third-party asset sales.
Talonvest Senior Director, Kim Bishop, commented, “Talonvest's
extensive lending relationships, industry expertise, and ability to
create a broad market outreach led to a highly competitive process
through which we secured favorable financing terms. Collaborating
with the Rialto team was an outstanding experience.”
Eric Snyder, Tom Sherlock, Kim Bishop, Philippe Castillo, and
Lauren Maehler were among the Talonvest team members responsible
for this transaction.
About Talonvest Capital, Inc.:Talonvest
Capital, Inc., is a boutique real estate firm that provides
advisory services to commercial and self storage real estate
investors, owners, and developers throughout the United States. The
firm utilizes a unique collaborative team approach and four decades
of institutional knowledge and expertise from the team members to
deliver better capital solutions for its clients.
Contact: |
Carole
Stanley |
|
Talonvest Capital, Inc. |
|
949.251.9900 |
|
cstanley@talonvest.com |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/02652b1a-80cf-4039-83f1-82e4c54a4a78