REBusinessOnline

Talonvest Arranges $15.6M Acquisition Loan for Metro Boston Self-Storage Facility

Needham-Self-Storage

The newly acquired self-storage facility in Needham totals 92,500 net rentable square feet across 970 units.

NEEDHAM, MASS. — Talonvest Capital, a mortgage banking firm focused on the self-storage sector, has arranged a $15.6 million bridge loan for the acquisition of a 970-unit facility in Needham, a western suburb of Boston. The property was built on 1.9 acres in 2020 and spans 92,500 net rentable square feet. Eric Snyder, Erich Pryor, David DiRienzo, Lauren Maehler and Jim Davies of Talonvest arranged the nonrecourse, floating-rate loan on behalf of the borrower, a joint venture between Westport Properties Inc. and investment management firm Heitman.

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