NEWPORT BEACH, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) — Talonvest Capital, Inc. is proud to announce the recent closing of a $22,255,000 non-recourse, bank-funded, permanent loan for a Class A self storage portfolio on behalf of The Jenkins Organization and Clark Investment Group. The three Texas properties located in Dallas (1) and Austin (2) were delivered in 2018 and contain 253,425 NRSF across 2,118 climate, non-climate, and drive-up units. The 5-year fixed rate loan and longer than normal open window for prepayment gives the ownership future flexibility, interest-only payments for the full loan term maximizes cash yields, and the loan sizing provides for a return of equity.
Within the same month, Talonvest negotiated another loan on behalf of Clark Investment Group for an institutional quality asset located at 2440 East Union Hills in Phoenix, Arizona. The $11,150,000 cash out, non-recourse refinance loan features a 10-year loan, full term interest only payments, and an attractive fixed interest rate obtained through a competitive bid orchestrated by Talonvest. Bob Baker, President of Clark Investment Group, commented, “We work with Talonvest because of their relationships with an extensive network of lenders, their support through the closing, and because they always deliver results for us.” The Talonvest team responsible for these assignments included Tom Sherlock, Kim Bishop, Britt Taylor, Ivan Viramontes, 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. Learn more at https://talonvest.com.
3 Property Portfolio, Texas
Union Hills, Phoenix-AZ
| Contact: | Carole Stanley |
| Talonvest Capital, Inc. | |
| 949.251-9900 | |
| cstanley@talonvest.com |
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c4beaa51-b194-4e78-932a-ebe8edf9af7d
https://www.globenewswire.com/NewsRoom/AttachmentNg/c4300e70-c9ab-4599-a860-4290aa9ca821
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