Talonvest Capital, in partnership with Metro Self Storage, closed a $10.2 million bridge financing for a Class-A self-storage facility in Monmouth Junction, New Jersey.
Spanning 74,794 net rentable square feet, the facility offers a mix of climate-controlled and drive-up units. The bridge loan, facilitating the property’s economic stabilization, features no lease-up covenants, a fixed interest rate, and interest-only payments for half the loan term.
Talonvest secured the five-year non-recourse financing through a life company with a team of Kim Bishop, Eric Snyder, Tom Sherlock, Mason Brusseau, and Lauren Maehler.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.