1 week ago
7
Wedgewood Avenue
North Charleston, SC
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NEWPORT BEACH, Calif., April 11, 2025 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique advisory firm specializing in self-storage and commercial real estate, successfully secured a $4.7 million joint venture equity investment and an $8.7 million construction loan on behalf of repeat client, Wedgewood Avenue. Upon completion, the development will be a Class A, multi-story self-storage facility in North Charleston, SC. The project will feature 826 climate-controlled units across 86,000 square feet on a 4.14-acre site.
On this assignment, Talonvest successfully created and managed a robust lender competition which resulted in both recourse and spread improvements that significantly benefited the borrower. Specifically, negotiations resulted in 40% limited recourse that burns down to 20% upon reaching a threshold income level and a competitive credit spread of 290 bps for a 65% leverage level. The construction loan has a 48-month term with full-term interest-only payments.
Beau Fowler, Managing Principal of Wedgewood Avenue, commented, "Talonvest's deep market knowledge continues to impress us and their ability to structure the full capital stack has been invaluable in optimizing our development.”
The Talonvest team responsible for this transaction included Anna Siradze, Britt Taylor, Eric Snyder, Ivan Viramontes, and Lauren Maehler.
About Talonvest Capital Inc.:
Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge capital programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company's collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients. With over four decades of experience, Talonvest Capital has a unique perspective from its team's previous experience on the lending side, managing institutional equity, executing nationwide joint venture investments, and facilitating diverse capital placements for clients across the United States. Learn more at https://talonvest.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2208c19a-d395-4e8e-b5cf-671d16fee606
