Talonvest Capital secured a $47.65 million permanent loan on behalf of The Jenkins Organization and Clark Investment Group for a six-property self-storage portfolio across five high-growth Texas markets, including Austin, McKinney, Frisco, Houston and Bee Cave.
The institutional-quality portfolio totals more than 600,000 net rentable square feet and is well-positioned to benefit from favorable demographic trends and sustained demand for self storage.
Working closely with ownership, Talonvest identified a floating-rate financing structure from a large bank that aligned with the sponsor’s long-term ownership strategy and maximized optionality in an uncertain interest-rate environment. The financing features five consecutive one-year extension options, is non-recourse, includes interest-only payments throughout the full loan term, and has no prepayment penalties or costs. The structure gives ownership significant flexibility to respond as interest rate and capital market conditions evolve while continuing to execute its long-term business plan.
Thomas Sherlock, Kim Bishop, Carson Kurland, and Lauren Maehler were among the Talonvest team members responsible for the financing. This transaction contributes to more than $256 million in financings that Talonvest has successfully closed over the past 30 days.
