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CST: 14/12/2019 03:51:53   

$23.7 Million Construction Loan Structured for 2 Storage Properties in the Pacific Northwest

275 Days ago

IRVINE, Calif., March 13, 2019 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, negotiated $23.7 million of construction financing on behalf of Leon Capital Group for two storage developments in the Pacific Northwest.  The institutional quality self storage facilities will be built in undersupplied trade areas of Portland, OR.  Both developments are easily accessible via heavily traveled roads with traffic counts in excess of 25,000 vehicles per day.  The development on SE Division Street in Portland will have approximately 113,155 net rentable square feet on a 1.72 acre site.  The approximate 102,692 net rentable square feet development site on SE Powell Boulevard in Portland is located on 1.57 acres.  The two acre back portion of the site was recently sold to Renaissance Homes, a builder of luxury homes.

The two developments have separate, uncrossed loans featuring limited recourse and 42 month loan terms with interest only payments and an 18-month extension option.  The loans were negotiated and closed with one of the 50 largest banks in the United States.  Jake Walker, Chief Operating Officer of Leon Capital Group, commented “Talonvest secured our last construction portfolio loan and they delivered once again.  They’re a valuable leverage point for our team and drive better pricing, terms, and structure through competition and negotiation.”

The Talonvest team members representing Leon Capital Group in this assignment included Kim Bishop, Eric Snyder, and Jim Davies.

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 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.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/11b10b60-83e5-4598-9bb5-485020c1579d

Contact:
Amanda Waite
Talonvest Capital, Inc.
949.648.0337
awaite@talonvest.com

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