IRVINE, Calif., June 24, 2022 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc. and Capital 360, LLC are proud to announce the recent closing of a $22,780,000 construction loan for the development of a 3-story, state-of-the-art self storage facility located at 7891 Deering Avenue in Canoga Park, CA. The property will have 1,433 climate-controlled units in 134,510 NRSF and 12 RV parking spaces. The 2.8-acre site is located in an Opportunity Zone in the heart of the densely populated San Fernando Valley, approximately 28 miles northwest of Downtown Los Angeles.
The construction loan was funded by a California state-chartered bank and features a 5-year fixed interest rate with 4 years of interest only payments, no prepayment penalty, and one 60-month extension option. Brian Shniderson, President and CEO of Capital 360, commented, “Once again Talonvest came through for us. I’ve come to rely on their experience, broad relationships, and wise counsel unlike any other investment banking firm I’ve worked with.” The Talonvest team responsible for this assignment included Jim Davies, Kim Bishop, Tom Sherlock, Parker Crockett, and Thalia Tovar.
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 throughout the United States. The firm utilizes a collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to structure superior 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/762d6c4a-fb37-4328-9706-1f30005d6758
