{"id":1004155226,"date":"2016-10-12T12:38:14","date_gmt":"2016-10-12T20:38:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155226"},"modified":"2020-04-29T01:39:05","modified_gmt":"2020-04-29T09:39:05","slug":"talonvest-secures-58m-loan-for-self-storage-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-58m-loan-for-self-storage-portfolio\/","title":{"rendered":"Talonvest Secures $58M Loan for Self-Storage Portfolio"},"content":{"rendered":"

By Adriana Pop<\/em><\/p>\n

Irvine, Calif<\/strong>.\u2014Talonvest Capital Inc<\/a>. has arranged a competitive bid for a $58 million loan secured by a portfolio of 21 self-storage properties<\/a> located in Texas, Tennessee, California and Wisconsin. The boutique self-storage and commercial real estate advisor completed the financing on behalf of Devon Self Storage<\/a> and their institutional joint-venture equity partner. Talonvest structured and closed the loan with a large national bank.<\/p>\n

\"Devon<\/a>

Devon Self Storage in Milwaukee<\/p><\/div>\n

“This was a complex transaction that required a very experienced broker. The Talonvest team negotiated excellent loan terms and structure, and then tenaciously managed the closing,” noted Ken Nitzberg, chairman & CEO of Devon Self Storage.<\/p>\n

The three-year balance sheet loan was priced at LIBOR\u00a0plus 2.75 percent and includes interest only payments for the term, partial releases, no prepayment penalty after eighteen months, extension options, and a creative interest hedging structure that allowed the borrower to save money.<\/p>\n

“Devon Self Storage is a valued, long-standing client of our company and their continued confidence in our capital market expertise is gratifying,” observed Talonvest Capital Principal Eric Snyder.<\/p>\n

The Talonvest team that negotiated and structured this loan included Snyder, Kim Leslie, Tom Sherlock, and Jim Davies.<\/p>\n

Earlier this year, the company secured $62 million<\/a> of bank balance sheet loans for SoCal Self Storage<\/a>.<\/p>\n

Image courtesy of Devon Self Storage<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 21 facilities operated by Devon Self Storage are located in Texas, Tennessee, California and Wisconsin. <\/p>\n","protected":false},"author":260,"featured_media":1004155228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,13,21742,15],"tags":[],"class_list":["post-1004155226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midwest","category-latest","category-west"],"acf":[],"yoast_head":"\nTalonvest Secures $58M Loan for Self-Storage Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-58m-loan-for-self-storage-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talonvest Secures $58M Loan for Self-Storage Portfolio\" \/>\n<meta property=\"og:description\" content=\"The 21 facilities operated by Devon Self Storage are located in Texas, Tennessee, California and Wisconsin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-58m-loan-for-self-storage-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-12T20:38:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-29T09:39:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Devon-Self-Storage-in-Milwaukee.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"687\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-58m-loan-for-self-storage-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-58m-loan-for-self-storage-portfolio\/\",\"name\":\"Talonvest Secures $58M Loan for Self-Storage Portfolio - 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