Talonvest Lends a Hand to Self-Storage Investors

By Mihaela Coste

Jim Davies, principal of Talonvest

Irvine, Calif.—Talonvest Capital Inc. has recently secured more than $36 million in construction loans for various self-storage owners in the Los Angeles area, San Diego area, Dallas and Denver.

The company arranged a $13.4 million ground-up construction loan negotiated with a Midwest-based bank, on behalf of World Class Capital Group, for the development of a 101,000-square-foot facility in the Los Angeles area. The four-year loan includes an extension option and a structured recourse burn down schedule.

“We were pleased to work with such an innovative sponsor and more importantly, to deliver the combination of leverage with attractive pricing for the development of Santa Clarita Self Storage,” said Jim Davies, principal of Talonvest.

William Warren Group benefited from a four-year construction loan of $10.2 million for the development of a self-storage facility encompassing approximately 100,000 square feet of space in the San Diego area. The interest-only basis loan includes two one-year extension options and was negotiated through a national banking firm.

Talonvest secured $6.8 million of construction financing for the conversion of a former grocery store into a two-story Class A self-storage facility in Carrollton, Texas. The financing was arranged through an Asian-based financial services group on behalf of Los Robles Capital Management.

The same international financial services group provided a construction loan in the amount of $6.4 million to a self-storage investor in Denver, for the conversion of a former warehouse into a 72,000-square-foot climate controlled facility. The two individual loans were negotiated on a non-recourse basis, each with a three-year term and two one-year extension options.

The Talonvest team that negotiated and structured the financings included Davies, Eric Snyder, Tom Sherlock, Kim Leslie and Erich Pryor.

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