IRVINE, Calif., March 29, 2018 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique self storage and commercial real estate advisor, negotiated a $13,600,000 non-recourse, 10-year fixed rate, interest only permanent loan secured by a recently constructed storage facility located at 930 S. 47th Street in San Diego, CA. An affiliate of Chicago Capital Funds, a privately held investment firm, developed U-Stor-It Logan. The four-story, 98,000 net rentable SF property has 1,145 storage units, three elevators servicing three dedicated loading areas to provide tenant access into the building, and 16 parking spaces on the 1.9 acre sloped site. U-Stor-It Logan is located adjacent to retail, nearby to numerous residential complexes and has visibility from I-805, a major north-south interstate in Southern California.
The financing was negotiated with a large national bank that funded the cash-out securitized loan utilizing an aggressive debt yield and short underwriting period. Larry Nora, Founder and CEO of Chicago Capital Funds, shared, “We had complete confidence Talonvest would deliver a great capital solution to us based on their reputation, their capital relationships built over decades, and the excellent service they’ve provided us in the past.” The Talonvest team responsible for this assignment included Jim Davies, Kim Leslie, Tom Sherlock, 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 over the past four decades by its team members, to deliver better capital solutions for its clients.
About U-Stor-It
U-Stor-It is a group of acquisition, development, construction, and management companies with a proven track record of over 28 years in the self storage industry. U-Stor-It offers a proven performance record of having developed over 3 million square feet of self storage product with a valuation of over 500 million dollars.