IRVINE, Calif., March 08, 2022 (GLOBE NEWSWIRE) — Talonvest Capital and longtime client 1784 Capital Holdings have successfully structured a $41,350,000 construction loan for the development of a 133,775 net rentable square foot, Class A, state-of-the-art self-storage property in San Gabriel, CA. When complete, the six-story with basement facility will include 1,500 climate-controlled units in an infill Greater Los Angeles area location. The property benefits from excellent visibility and easy access on a primary arterial roadway connecting the I-10 and I-210 Freeways. Additionally, the surrounding dense residential developments and retail destinations within a high-demand, underserved, storage market bode well for the success of this development.
A San Francisco-based private credit firm won the Talonvest orchestrated lender competition and provided a non-recourse, 75% loan-to-cost, three-year construction loan with a one-year extension option. Shane Albers, Chairman and CEO of 1784 Capital Holdings commented, “Talonvest negotiated another excellent loan for us. Their capital market expertise is evidenced by the outstanding results they keep delivering.” The Talonvest team members responsible for this assignment were Jim Davies, Tom Sherlock, Erich Pryor, David DiRienzo, and Thalia Tovar.
About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate firm that providing advisory services to self-storage and commercial real estate investors, owners, and developers throughout the United States. The firm utilizes a collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to structure superior capital solutions for its clients.