NEWPORT BEACH, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) — Self storage and commercial real estate advisory firm, Talonvest Capital, and their client, Deca Companies, are pleased to announce the closing of a $22,900,000 construction loan for the development of a 5-story storage facility in Daly City, CA. The project will have approximately 63,000 net rentable square feet of climate-controlled storage space on a site with high visibility on Interstate 280. After successfully battling through an arduous entitlement process, Deca’s development will bring new supply into an undersupplied trade area.
The construction loan has a 36-month term with two one-year extension options, full-term interest-only payments, and prepayment flexibility. Stanley Zheng, Vice President Deca Companies commented, “Deca is thrilled to break ground on a high-visibility and iconic high storage project. Talonvest was a valued advisor for Deca in our construction loan. We are thankful for our partners that made this happen, including the City of Daly City, Extra Self Storage, DAI, and Talonvest.”
The Talonvest team representing Deca on this assignment included Kim Bishop, Jim Davies, Mason Brusseau, Tom Sherlock, and Lauren Maehler.
About Talonvest Capital, Inc.
Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge lending programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company’s collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients.
With over four decades of experience, Talonvest Capital has a unique perspective from its team’s previous experience on the lending side, managing institutional equity, executing nationwide joint venture investments, and facilitating diverse capital placements for clients across the United States. Learn more at https://talonvest.com.
About Deca
Deca’s principals have over 80 years of real estate development and investment experience, and have developed millions of square feet of industrial, office, hotel, and residential property, including large-scale public-private partnerships. Deca has over 11,000,000 sq. ft. of projects under development, including 8.0 million sq. ft. of warehouse/industrial, 275,000 sq. ft. of self-storage, 1,500 units of multifamily residential, and 120,000 sq. ft. of class-A office. Deca’s projects have a finished value of ~$3.8 billion. Learn more at https://www.decaco.com/.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9dd44465-48dd-4b2f-9da5-da4ddc9a63dd
