Talonvest Capital, in collaboration with Metro Self Storage, recently finalized a $10.2 million bridge financing deal for a top-notch self-storage facility located in Monmouth Junction, New Jersey. This Class-A property boasts 74,794 net rentable square feet and offers a variety of climate-controlled and drive-up units.
The bridge loan was specifically designed to support the economic stabilization of the facility and includes no lease-up covenants. It also features a fixed interest rate and allows for interest-only payments during half of the loan term.
The financing was secured by Talonvest through a life company with an expert team consisting of Kim Bishop, Eric Snyder, Tom Sherlock Mason Brusseau,and Lauren Maehler as key players.
This recent development showcases yet another successful partnership between Talonvest Capital and Metro Self Storage in their efforts to provide top-quality self-storage facilities across various locations without any mention or reference to specific regions or platforms such as Connect CRE or Connect LA/Texas.
