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Talonvest Capital Arranges $22.9M Loan For Deca Companies' Development In Daly City
FINANCED
$22,900,000
+ 2
California
See Similar DealsDevelopment Site
Financed 11/13/2024
FINANCED
Talonvest Capital Arranges $22.9M Loan For Deca Companies' Development In Daly City
60 Station Avenue
See Similar DealsDevelopment Site
Financed 11/13/2024
+ 2
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan
A construction loan of $22,900,000 has been arranged for Deca Companies to develop a 5-story climate-controlled storage facility at 60 Station Avenue, Daly City, CA. The asset encompasses a total building size of 63,000 square feet and is strategically located along Interstate 280, targeting an undersupplied market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,900,000
- Loan Type: Construction
- Loan Terms: 36-month term with two one-year extension options, full-term interest-only payments, and prepayment flexibility
- Landlord: Stanley Zheng - Deca Companies
- Brokers: Jim Davies, Kim Bishop, Lauren Maehler, Mason Brusseau & Tom Sherlock - Talonvest Capital
Talonvest Capital facilitated the loan to support Deca Companies in introducing new supply to the market following a complex entitlement process, thereby enhancing storage solutions in Daly City.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,900,000.00
Monthly NOI$152,666.67
Monthly Debt Service$144,743.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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