Talonvest Capital Negotiates $53M Construction Loan
Talonvest Capital and 1784 Holdings have closed a $53 million construction loan for a Class-A self-storage facility in Bethesda, MD.
The construction loan features a 28-month term with two extension options, full-term interest-only payments, an earnout funding upon receipt of the full certificate of occupancy, and no lease-up covenants. Talonvest negotiated a springing rate cap, allowing the borrower to forgo the costs of a purchase at closing. The financing was provided by a privately held real estate firm.
The Talonvest team representing 1784 Holdings on this assignment included Kim Bishop, Jim Davies, Ivan Viramontes, Tom Sherlock, and Lauren Maehler. “We have a longstanding relationship with Talonvest, and their commitment to consistently deliver results across numerous deals is a cornerstone of our collaborative success,” said Shane Albers, Chairman and CEO of 1784 Holdings.
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.