Talonvest Capital, in partnership with Metro Self Storage, closed a $10.2 million bridge financing deal for a Class-A self-storage facility in Monmouth Junction, New Jersey. The property, located at 3969 US-1, spans 74,794 square feet and consists of a mix of climate-controlled and drive-up units. This facility received a five-year non-recourse loan with favorable terms, including a fixed interest rate and interest-only payments for half the loan term.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $10,200,000
• Address: 3969 US-1, Monmouth Junction, New Jersey
• Market: Monmouth Junction
• Landlord: Metro Self Storage - K. Blair Nagel
• BROKERS: Eric Snyder, Kim Bishop, Lauren Maehler, Mason Brusseau, and Tom Sherlock - Talonvest Capital

The loan provided for this self-storage facility offers a range of attractive terms, making it a compelling investment. It is a five-year non-recourse loan, meaning the borrower is not personally liable for repayment. Additionally, the loan terms include interest-only payments for the initial period. This financing arrangement demonstrates the market's confidence in the facility's profitability, given the absence of lease-up covenants.