Talonvest Capital and 1784 Holdings have successfully secured a $53 million construction loan for a premier self-storage facility in Bethesda, MD. The loan boasts 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 skillfully negotiated a springing rate cap that eliminates the need for purchase costs at closing. The financing was provided by a reputable privately held real estate firm.
The team at Talonvest who represented 1784 Holdings on this project included Kim Bishop, Jim Davies, Ivan Viramontes,Tom Sherlock,and Lauren Maehler.Their longstanding partnership with Talonvest has proven to be instrumental in achieving successful results across multiple deals as stated by Shane Albers,the Chairman and CEO of 1784 Holdings.”We value our collaborative success with Talonvest,” said Albers.
This article was originally published on Connect CRE’s website.
