IRVINE, Calif., Aug. 03, 2022 (GLOBE NEWSWIRE) — Talonvest Capital, Inc. and Crist Property Company are proud to announce the recent closing of $33,000,000 in permanent financing for the refinance of six assets in California. The self storage facilities located in the cities of Stockton, Salinas, Tracy, Modesto, Paso Robles, and Hollister total over 351,000 net rentable square feet, include 329 parking spaces, and have occupancy levels ranging from 94% to 99%. The non-recourse, cash-out refinance loans, funded by a Chicago headquartered insurance company, featured an early rate lock at application during a period of rising interest rates as well as funds to complete the expansion / build-out at one of the facilities and to install solar at all properties. The 10-year fixed rate loans have interest only payments during the entire loan term to maximize cash flow for the borrowers. Scott Crist, President of Crist Property Company, shared “Talonvest brought life companies, banks, credit unions, and CMBS lenders into the competition which resulted in us getting excellent loan terms and pricing.” The Talonvest team responsible for this assignment included David DiRienzo, Jim Davies, Mason Brusseau, Parker Crockett, and Thalia Tovar.
With its business activity continuing to grow, Talonvest is also pleased to announce the recent hirings of Britt Taylor as Director-Relationship Management and Brian Beaudette as an Associate. Britt earned her MBA from the University of Denver and was most recently Director of Operations for a Southern California family office. Her previous experience includes being Vice President at a Los Angeles based real estate investment firm and Chief of Staff at a technology startup. Brian worked at Lennar Mortgage as a Loan Officer for the past four years and previously spent time in the brokerage business at Voit Real Estate Services. Brian graduated from Cal Lutheran University with a BS in Business/Management. Both individuals will be instrumental in enhancing Talonvest’s capital placement activities on behalf of commercial and self storage clients.
About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate firm providing advisory services to self-storage and commercial real estate investors, owners, and developers throughout the United States. The firm utilizes a collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to structure superior capital solutions for its clients.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9b55eee8-525c-497e-9f33-3d09f7fce628