Updated Feb 21, 2025
Talonvest Capital Secures $7.2 Million Loan For Self Storage Portfolio In Thousand Oaks And Torrance
2550 Willow Lane
$7,200,000
$73/SF
Building Size
97,916 SF
Asset Type
Self Storage
Closing
Feb 18, 2025
About this deal
AI
The asset involved in the transaction is a self-storage portfolio located in Thousand Oaks and Torrance, comprising 1,024 units with a total square footage of 97,916. The transaction secured two loans amounting to $7,200,000, featuring a 10-year loan term with full-term interest-only payments.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $7,200,000
- Units: 1,024
- Square Footage: 97,916
- Market: Thousand Oaks & Torrance
- Loan Terms: 10-year loan, full-term interest only payments
- Brokers: Eric Snyder, Kim Bishop, Lauren Maehler, Morgan Johnson & Ivan Viramontes - Talonvest Capital
Talonvest Capital played a crucial role in this transaction by securing the $7.2 million non-recourse loans for the SoCal Self Storage facilities. They negotiated favorable terms, including below 200 basis points loan spreads and the elimination of financial cash management triggers.
On the Map
$7,200,000
$73/SF
Self Storage
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Players
Thousand Oaks Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93