FINANCED
Talonvest Secures $10M Bridge Loan For New Jersey Self Storage Facility On State Route 35
97 State Route 35
Self Storage
65,800 SF
65,800 SF
Financed 280 days ago
Summary
Loan
NEW JERSEY
Self Storage
65,800 sqft
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
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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Address97 State Route 35
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