Talonvest Secures $22M for California Self Storage Facilities
- Mar 12, 2020
Talonvest Capital has arranged $22.3 million in financing for two self storage facilities in the Inland Empire. The firm worked on behalf of William Warren Group in securing the 10-year, fixed-rate loans with interest-only payments, at a 3 percent interest rate.
The two StorQuest properties encompass a total of 1,335 units and 218,000 net rentable square feet and are located in Indio and La Quinta. The Indio facility includes 13 buildings at 83614 Doctor Carreon Blvd., on approximately 10 acres. The property came online in 2002 and was renovated in 2008, according to Yardi Matrix. The Class B asset features security cameras, climate control and 125 RV parking spaces and is 7 miles from Jacqueline Cochran Regional Airport.
Completed in 2002, the La Quinta facility is situated on 4 acres at 47350 Dune Palms Road, just off Highway 111. According to Yardi Matrix data, the four-building property features security cameras and climate control.
Talonvest Capital’s team included Kim Bishop, Eric Snyder, Lauren Maehler and David DiRienzo. In February, another Talonvest Capital team including the same members secured $16.5 million in financing for a Secure Self Storage facility in Norwalk, Conn.