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Talonvest secures $63M bridge loan for Bethesda self-storage project
The bridge financing is pre-Certificate of Occupancy and supports construction of a Class A, climate-controlled facility with 1,560 units across 131,559 square feet.
Talonvest Capital arranged a $63 million bridge loan for 1784 Holdings, a privately held real estate developer focused on self-storage facilities, according to ConnectCRE.
The financing is structured as pre-Certificate of Occupancy support for a Class A self-storage property in Bethesda, Maryland. The development will include 1,560 climate-controlled units totaling 131,559 square feet, located along River Road about seven miles from the U.S. Capitol, ConnectCRE reported.
ConnectCRE said the bridge loan carries a four-year term, includes full-term interest-only payments, and offers an extension option from a private credit lender.
Talonvest’s Thomas Sherlock, Kim Bishop, Mason Brusseau, and Lauren Maehler arranged the financing, and ConnectCRE noted CEO and Principal Shane Albers said Talonvest has supported the company’s growth and delivered solutions aligned with its objectives.