IRVINE, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, and its longtime client, 1784 Holdings, are pleased to announce the closing of a $53,000,000 construction loan for the development of a Class-A self storage facility in Bethesda, MD. The site benefits from high visibility and easy access in an affluent community adjacent to Washington, D.C., with only 3 competitive storage facilities within a 2-mile radius.
The construction loan included a 28-month term with two extension options, full-term interest-only payments, an earnout funding upon receipt of the full certificate of occupancy, and no lease-up covenants. Talonvest successfully negotiated a springing rate cap, allowing the borrower to forgo the costs of a purchase at closing. The financing was funded by a privately held real estate firm.
Shane Albers, Chairman and CEO of 1784 Holdings, commented, “We have a longstanding relationship with Talonvest, and their commitment to consistently deliver results across numerous deals is a cornerstone of our collaborative success. They serve as expert advisors, and we deeply value the team’s insights and vast network of capital providers.”
The Talonvest team representing 1784 Holdings on this assignment included Kim Bishop, Jim Davies, Ivan Viramontes, Tom Sherlock, and Lauren Maehler.
About Talonvest Capital, Inc.
Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge lending programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company’s collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients.
With over four decades of experience, Talonvest Capital has a unique perspective from its team's previous experience on the lending side, managing institutional equity, executing nationwide joint venture investments, and facilitating diverse capital placements for clients across the United States. Learn more at https://talonvest.com.
| Contact: | Daniela Valencia |
| Talonvest Capital, Inc. | |
| 949.387.2368 | |
| dvalencia@talonvest.com |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/394f1ab4-aa5b-4f17-b6da-5f106ca3d471
