Talonvest Capital secures $7.8 million loan for Georgia self-storage project
- Talonvest Capital and Coro Realty Advisors announced a $7.835 million construction loan for a self-storage project in Woodstock, Georgia.
- The project will be a two-story climate-controlled building with 79,674 NRSF, located near high-traffic retailers and providing access to I-575.
- Despite a challenging capital market environment, Talonvest successfully showcased site strengths and local expertise, achieving favorable financing terms.
In the United States, Talonvest Capital, Inc. collaborated with Coro Realty Advisors to announce a substantial construction loan for a self-storage development project located in Woodstock, Georgia. The financing, which totals $7,835,000, is allocated for a Class-A property situated at 300 Ridgewalk Parkway, near significant retail locations. This two-story building features climate-controlled units and a drive-up basement, boasting a total of 79,674 net rentable square feet. The strategic position allows direct access to I-575, the primary transportation route for residents living in the north side of Woodstock, easing their commute to Downtown. Amidst a challenging environment for new construction loans, where banking activity is limited, Talonvest successfully leveraged its extensive network of lenders. The team articulated the strengths of the site and Coro's local knowledge to enhance competition among various lenders. President of Coro Realty Advisors, Robert Fransen, praised Talonvest for their collaborative approach and capital markets expertise in navigating these intricate conditions. He emphasized that despite the hurdles, Talonvest delivered results, highlighting the company’s ability to provide value through their broad lender relationships while pursuing financing in a strained market. The local market, especially the rapid-growth residential areas of the Atlanta metropolitan statistical area, has seen an increase in demand for self-storage solutions. With residents moving into the vicinity, having a climate-controlled storage facility enhances the development's appeal and anticipated success as it caters to the evolving needs of the community. This project is expected to meet that demand while positioning itself advantageously within a high-traffic area. The team from Talonvest, which played a crucial role in this assignment, included experienced members like David DiRienzo, Britt Taylor, Mason Brusseau, Tom Sherlock, and Lauren Maehler. With over four decades of experience in capital placements and real estate, Talonvest Capital has established a reputation for navigating complex financing scenarios. This loan negotiation marks another successful milestone for both Talonvest and Coro Realty Advisors as they continue to contribute to the self-storage and commercial real estate sectors in the region.