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Talonvest arranges $47.6M loan for Texas self-storage portfolio
The $47.6 million permanent, non-recourse loan includes interest-only payments and five consecutive one-year extension options.
Talonvest Capital secured a $47.6 million permanent loan for a six-property self-storage portfolio in Texas, on behalf of The Jenkins Organization and Clark Investment Group, according to ConnectCRE.
The portfolio spans five high-growth Texas markets, including Austin, McKinney, Frisco, Houston and Bee Cave, and totals more than 600,000 net rentable square feet.
ConnectCRE says the financing was structured with a floating-rate approach from a large bank to match the sponsors’ long-term ownership strategy. The terms include interest-only payments throughout the full loan term, non-recourse protections, five consecutive one-year extension options, and no prepayment penalties or costs.
ConnectCRE added that the transaction brings Talonvest’s closed financing volume to more than $256 million over the past 30 days, supported by a floating-rate structure designed to provide flexibility as interest-rate and capital-market conditions change.