Talonvest Negotiates $16M Loan for Two Self-Storage Facilities in Oregon, Washington
PORTLAND, ORE., AND VANCOUVER, WASH. — Talonvest Capital has arranged a $16 million loan for Get Space. The life insurance company-backed, 10-year loan is secured by two self-storage facilities in Portland and Vancouver. The loan provided the borrower permanent financing prior to economic stabilization at the properties.
The properties offer a total of 122,000 rentable square feet and 1,257 storage units in a mix of climate-controlled and non-climate-controlled units. The Vancouver property was built in 2018, while the Portland location was expanded and renovated in 2018.
Erich Pryor, David DiRienzo, Jim Davies and Tom Sherlock of Talonvest Capital handled the financing.