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Investec secures $53.5M refi for California self-storage portfolio

The five-year, full-term interest-only loan is expected to save Investec $400,000 in interest over the loan term.

Reported · Written up by our desk · Commercial

Investec Real Estate Companies has secured $53.5 million to refinance a portfolio of three self-storage assets in Central and Southern California, according to Commercial Observer.

The properties total 253,496 rentable square feet and include 1,818 units across Highland, Goleta, and Murrieta. New York Life provided the debt as a five-year, full-term, interest-only loan.

Talonvest Capital arranged the transaction. Investec said the financing deal saved $400,000 in interest over the loan term and includes an early rate lock designed to protect the firm from interest rate changes before closing.

Investec president Kenny Slaught praised Talonvest Capital for securing a loan with terms that exceeded expectations, citing Talonvest’s capital markets expertise and negotiation.

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