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Talonvest Secures $10M Bridge Loan For New Jersey Self Storage Facility On State Route 35

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FINANCED
$10,000,000
Mason Brusseau
Lauren Maehler
Eric Snyder
+ 1

New Jersey

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Self Storage65,800 SF
Financed 08/14/2023
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FINANCED

Talonvest Secures $10M Bridge Loan For New Jersey Self Storage Facility On State Route 35

97 NJ-35 Eatontown, NJ 07724, USA

See Similar Deals
Self Storage65,800 SF
Financed 08/14/2023
Mason Brusseau
Lauren Maehler
Eric Snyder
+ 1
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Self Storage
Price Per Square Foot:$152
Total Square Footage:65,800 SF
Transaction Type:Loan

A $10 million bridge loan has been secured for a self storage facility located at 97 State Route 35 in Eatontown, New Jersey. The property, owned by Strategic Storage Growth Trust III, Inc, consists of 730 units and spans across 65,800 square feet.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: $10,000,000
  • Address: 97 State Route 35, Eatontown, New Jersey
  • Market: Eatontown
  • Units: 730
  • Square Footage: 65,800

Talonvest Capital, Inc, represented by brokers Eric Snyder, Britt Taylor, Mason Brusseau, and Lauren Maehler, facilitated the loan for this self storage facility. The loan offers the borrower flexibility with interest-only payments for half of the 4-year term, along with a sliding scale prepayment structure. This unique life company loan presents favorable terms for Strategic Storage Growth Trust III, Inc's self storage investment.

Players

Mason Brusseau
Talonvest Capital
Mason Brusseau
9 deals$454.5M volume
BROKER
Lauren Maehler
Talonvest Capital
Lauren Maehler
16 deals$643M volume
BROKER
Eric Snyder
Talonvest Capital
Eric Snyder
9 deals$353.8M volume(949) 251-9902
BROKER
Britt Taylor
Talonvest Capital
Britt Taylor
7 deals$191M volume(949) 679-5698
BROKER
SI
Strategic Storage Growth Trust III, Inc
LANDLORD

Details

FINANCED
IMAGE: Eric Snyder, Britt Taylor, Mason Brusseau & Lauren Maehler DATE: 08/14/2023 ADDRESS: 97 State Route 35 MARKET: Eatontown ASSET TYPE: Self Storage ~ UNITS: 730 ~ SF: 65,800 LANDLORD: Strategic Storage Growth Trust III, Inc BROKERS: Eric Snyder, Britt Taylor, Mason Brusseau (@MasonBrusseau) & Lauren Maehler - Talonvest Capital, Inc. (@TalonvestCapital) LOAN AMOUNT: $10,000,000 LOAN TYPE: Bridge Loan LOAN TERMS: 4 year non-recourse loan included interest-only payments NOTE: Talonvest Capital secured a $10 million loan for a New Jersey self storage facility owned by Strategic Storage Growth Trust III. The unique life company loan offers flexibility with interest-only payments for half the term and a sliding scale prepayment structure. .

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00