Talonvest secures $ 14.4 million construction loan for CA.

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Irvine, Calif., June 22, 2021 (GLOBE NEWSWIRE) – Talonvest Capital, Inc., a self-storage and commercial real estate boutique mortgage company, represented Magellan Value Partners in structuring a $ 14,400,000 home loan to develop a 106,582 square feet net lettable space, Class A, state-of-the-art facility in Azusa, CA. The home loan had a fixed rate of five years, four year interest payments only, and limited recourse. In addition, the loan can be repaid early at any time without a prepayment penalty and includes a five-year extension option.

MVP bought the site in 2019 and went through a rigorous permissions process to obtain approval to use storage space. The architecturally striking, three-storey complex with a basement will include climate and non-climate-controlled options in the 1,150 units. This development is positioned for great success due to its prominent location on a main artery near the busy I-210, a major east-west freeway from Los Angeles, excellent accessibility via a signalized intersection and good visibility.

Somy Mukherjee, Magellan’s Managing Partner, commented, “Talonvest’s extensive knowledge of the capital markets and his negotiating skills with lenders were very evident to us in managing this funding. We look forward to working with the Talonvest team again. ”Eric Snyder, Kim Bishop, David DiRienzo, Lauren Maehler and Jim Davies were the responsible team members at Talonvest.

About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate company providing advisory services to self-storage and commercial real estate investors, owners and developers nationwide. The company uses a unique, collaborative team approach that highlights the institutional knowledge and expertise of its team members over the past four decades to provide better capital solutions to its clients.


        
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