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HAWTHORNE, CALIF., WAIPAHU, HAWAII, AND DENVER — Talonvest Capital has arranged $42.6 million in permanent financing across three self-storage properties on behalf of The William Warren Group. The sponsor is a privately held national real estate investment firm specializing in self-storage development, acquisition and management.
The financing includes:
- A $25 million permanent loan for a Class A self-storage facility managed by StorQuest Self Storage in Hawthorne: The property offers 1,261 units totaling 113,745 net rentable square feet. A life insurance company lender provided the five-year permanent loan, which includes full-term interest-only payments.
- A $9 million permanent loan for a Class A self-storage facility in Waipahu: Executed through the CMBS market, the 10-year, nonrecourse loan features interest-only payments.
- An $8.6 million permanent loan for a Class self-storage property in Denver: The loan was executed through the CMBS market and structured as 10-year, nonrecourse with interest-only payments.