IRVINE, Calif., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, arranged over $5 million of equity through its exclusive relationship with Clark Investment Group for Integritas Partners. In addition, Talonvest negotiated $13.6 million of construction financing with a Midwestern bank on behalf of the partnership. The partners are developing a Class-A, institutional quality self storage facility with 152,000 gross square feet in a five-story building featuring 1,220 storage units, 100% climate-controlled units, and drive-in loading bays. The property is located at 625 Grand Avenue in Ridgefield, NJ and is ideally positioned between Grand Avenue (SR-93) and Broad Avenue (SR-9) for outstanding visibility and access. Grand and Broad are the primary north-south arterials in the Borough of Ridgefield, which is located directly across the Hudson River from Manhattan. Unique among JV equity investors, the Clark Investment Group structures its investments with a long-term hold orientation. The construction loan for this project also had several unique features including a non-recourse 70% loan-to-cost advance rate with a 5-year loan term and interest only payments for the full term.
Gary Delaney, Managing Partner of Integritas Partners, commented, “Talonvest delivered a unique equity structure through their partnership with Clark Investment Group and then followed up with a one-of-a-kind construction loan. They’ve made invaluable connections for us and the growth of our business.” The Talonvest team responsible for this assignment included Tom Sherlock, Jim Davies, Erich Pryor, and Terra Hendrich.
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 during the past four decades by its team members, to structure and deliver better capital solutions to its clients.
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