Bank Loan Arranged for Five-Property Self-Storage Portfolio

IRVINE, CA— Talonvest Capital , a boutique self-storage and commercial real estate mortgage brokerage firm, has structured $62 million of bank balance sheet loans secured by five separate properties for SoCal Self Storage .

Tom Sherlock, Talonvest

The individual loans were secured by well occupied self-storage facilities with a combined approximate 350,000 net rentable square feet in various Southern California locations.  A large, money center bank funded the 10-year, full term interest only, LIBOR floating rate loans, which Talonvest assisted in converting to fixed rate financing via swap contracts.  SoCal benefited from low cost, fixed rate financing and the swaps further provided the borrower an opportunity to secure an early rate lock.  Talonvest’s successful negotiations resulted in an earn-out, future advance provision during the first two years of the loan, elimination of cash management requirements, and avoidance of insurance and capital expenditure impounds which further aided the borrower. Bill Bromiley , principal of Syndicated Real Estate Investments , commented “the Talonvest team delivered a great interest rate while structuring advantageous loan terms for us and then proactively managed a smooth closing.” Denny Geiler , principal of Polo Properties, LLC, added “their knowledge of the capital markets was invaluable and their constant involvement throughout the process directly and positively influenced the results we received.” The Talonvest team members representing SoCal Self Storage in this assignment included Eric Snyder, Kim Leslie , and Tom Sherlock . Talonvest Capital is a boutique real estate firm providing advisory services to self-storage and commercial real estate investors, owners and developers nationally.  The principals of the firm have over 80 years of combined experience structuring loans and equity investments for office, industrial, retail, and apartment properties throughout the United States.  In addition, they have established a dominant niche position in financing self-storage properties across the country.