IRVINE, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, recently negotiated two non-recourse refinance bridge loans on behalf of The Jenkins Organization and their equity partner, Clark Investment Group. The state-of-the-art, Class A properties financed included Lakeline Storage located at 11000 Lakeline Blvd. in Austin, TX and Southlake Storage located at 2030 East Continental Blvd. in Southlake, TX. Combined, the two facilities have 161,670 net rentable square feet in 1,339 storage units. Both facilities benefit from the significant demand and high barriers to entry within their respective trade area.
Both bridge loans were unique in that there are no on-going leasing covenants required by the Life Insurance Company lender. Additionally, the loans featured fixed interest rates, several years of interest only loan payments and step-down prepayment structures. One loan was structured with a 3-year term while the other has a 4-year fixed rate term. Both loans were funded with low 4% interest rates.
Ricky Jenkins, President of The Jenkins Organization, shared, “Once again the Talonvest team delivered superior results. Their decades of experience, lender relationships at the senior level, and team approach are unparalleled.” The Talonvest team responsible for this assignment included Kim Bishop, David DiRienzo, Jim Davies, Eric Snyder, and Lauren Maehler.
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 firm utilizes a unique, collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to deliver better capital solutions for its clients.