Talonvest Capital Inc. has secured a total of $67.3 million in financing on behalf of Santa Monica-based The William Warren Group.
The permanent loans were closed in two separate self storage portfolio transactions, for properties in several states across the U.S., including Arizona, Colorado, California, Nevada and Florida. The facilities operate under the StorQuest Self Storage brand.
One of the portfolios included seven assets in Florida, Colorado and Arizona, for which a global investment bank provided a 10-year, non-recourse loan with full-term interest-only payments. The second portfolio included properties in Florida, Nevada and California, for which a credit union provided the financing. In this case, Talonvest negotiated a structure that allowed for cash out and an early rate lock. The non-recourse five year-loan had two years of interest-only payments.
The Talonvest Capital team included Senior Director Relationship Management Kim Bishop, Co-Founding Principal Eric Snyder, Associate Mason Brusseau, Analyst Ivan Viramontes and Closing Manager Lauren Maehler.
Founded in 1994, The William Warren Group is a privately held self storage development, acquisition, property and asset management company that focuses on investment in major metro markets across the U.S. According to Yardi Matrix data, the company has more than 220 self storage assets under its ownership, totaling some 16.7 million square feet.
Earlier this spring, CBRE Investment Management, in a joint venture with The William Warren Group, acquired a 14-property self storage portfolio in Southern California and Utah. Prudential Financial provided a $114 million loan, arranged by CBRE and Talonvest Capital.
