Talonvest Capital, based in Newport Beach, has arranged $48 million in financing for a multi-state self-storage portfolio on behalf of BRB Development, a family-owned company headquartered in Winnetka, IL. The assignment covered six self-storage properties and was executed for BRB Development as the borrower.
Members of the Talonvest team involved in the transaction included Eric Snyder, Kim Bishop, Carson Kurland, Mason Brusseau and Lauren Maehler. The team coordinated the refinancing process and worked with the life company lender to structure terms aligned with BRB Development’s objectives for the portfolio.
The financing is structured as a seven-year, non-recourse refinance provided by a life company lender. The loan features full-term interest-only payments, which can enhance near-term cash flow for the borrower over the duration of the financing.
According to Talonvest, the capital stack was designed with a flexible structure tailored to BRB Development’s objectives. As part of the execution, the firm secured an early rate lock, providing interest rate certainty ahead of closing. The structure also includes a 12-month open prepayment window, giving the borrower additional flexibility to refinance or repay the loan without penalty during that period.
Talonvest reports that the negotiated terms are expected to generate more than $500,000 in interest savings over the life of the loan. That savings is attributable to the pricing and structure obtained from the life company lender as part of the refinancing package.
The collateral portfolio consists of 5,006 self-storage units and two retail units, totaling 5,008 units across six properties. Together, the assets comprise 497,185 net rentable square feet. The properties are spread across a geographically diverse mix of states, including Florida, New Jersey, Minnesota, Connecticut and Illinois.
Each of the six assets is located in markets described as having favorable local dynamics for storage demand. The portfolio includes properties in high-growth Florida markets, commuter-oriented suburbs in the Northeast and established communities in the Midwest, reflecting a range of demographic and economic drivers across the regions where BRB Development is active.
The refinancing allows BRB Development to maintain long-term, non-recourse life company debt on the portfolio while benefiting from the negotiated interest savings and prepayment flexibility. Talonvest’s role centered on arranging the refinancing and optimizing loan terms for the borrower within the life company lending channel.
