NEWPORT BEACH, Calif., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with Platinum Storage Group and their equity partner are pleased to announce the successful closing of a $20 million loan for their newly developed, state-of-the-art self-storage facility located at 10 Hegenberger Court in Oakland, California.
With a pending loan maturity, the borrower's refinance goals included paying off the existing construction loan, maximizing interest only to accommodate the remaining lease-up, and resizing of interest reserves to carry the project through to stabilization. Talonvest successfully navigated the cautious lending environment and created a competitive market by focusing efforts on lenders looking to bolster their self storage portfolio. A debt fund provided a non-recourse, 3-year floating rate, bridge loan with ...
