Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, and its longtime client, 1784 Holdings, have announced the closing of a $53 million construction loan for the development of a Class-A self storage facility in Bethesda, MD (The 1-acre project is at 5204 River Road). The 200K SF property will come online in Q4 of 2025.
According to Talonvest, “The site benefits from high visibility and easy access in an affluent community adjacent to Washington, D.C., with only 3 competitive storage facilities within a 2-mile radius.
The construction loan included a 28-month term with two extension options, full-term interest-only payments, an earnout funding upon receipt of the full certificate of occupancy, and no lease-up covenants. Talonvest successfully negotiated a springing rate cap, allowing the borrower to forgo the costs of a purchase at closing. The financing was funded by a privately held real estate firm.”
Shane Albers, Chairman and CEO of 1784 Holdings, commented, “We have a longstanding relationship with Talonvest, and their commitment to consistently deliver results across numerous deals is a cornerstone of our collaborative success. They serve as expert advisors, and we deeply value the team’s insights and vast network of capital providers.”
The Talonvest team representing 1784 Holdings on this assignment included Kim Bishop, Jim Davies, Ivan Viramontes, Tom Sherlock, and Lauren Maehler.
MoCo High School Sports Scores for Feb 28, 2024 (powered by www.MoCoAI.com):
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AC Milan Academy is hosting a soccer camp at Maryland Soccerplex from March 1st through March 3rd for girls and boys aged 5 to 16 from any club who want to develop their soccer skills and learn the unique methodology of AC Milan directly from AC Milan coaches.
March 1st (Friday) 6pm-7:30pm
March 2nd (Saturday) 6pm-7:30pm
March 3rd (Sunday) 10:30am -12pm and 3:30pm-5pm
Location:18031 Central Park Cir, Boyds, MD 20841
Price: $349 + AC Milan Junior Camp Kit