JV GROUP INC. ASZP
JV GROUP INC. ASZP
Apertura: -
Cambio neto: -
Volumen: -
Mínimo: -
Máximo: -
Distancia Mín/Máx: -
Tipo: Acciones
Ticker: ASZP
ISIN:

Talonvest Capital Secures JV Equity and Construction Debt for Atlanta Storage Development

  • 89

IRVINE, Calif., Aug. 13, 2019 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique mortgage brokerage firm, successfully structured over $4 million of joint venture equity for Nuvo Development through its exclusive partnership with Clark Investment Group. In addition, Talonvest negotiated a $10.4 million non-recourse construction loan with a Midwestern based bank on behalf of the ownership.

Nuvo and Clark are developing a Class-A, institutional quality self storage facility located at 1599 Memorial Dr. SE in Atlanta, GA. The facility’s competitive advantages will include its best in class design and construction, 100% climate-controlled units, high visibility and strategic placement along the south side of Memorial Drive SE in proximity to the I-20 and Moreland Avenue interchange, approximately three miles east of downtown Atlanta.

The non-recourse construction loan negotiated by Talonvest featured a 70% advance rate and interest only payments for the full 5-year loan term. The loan also provides the borrower with prepayment flexibility, allowing the opportunity to procure long-term fixed rate financing as early as possible; an important feature considering the long-term hold anticipated by Nuvo and the equity investor.

Gary Cardamone, CEO of Nuvo Development commented, “Talonvest delivered the full capital stack for us; long-term hold JV equity through their partnership with Clark Investment Group and a non-recourse construction loan through their extensive network of capital providers.”

Talonvest principal Jim Davies added, “Talonvest’s JV equity partnership with Clark has extraordinary value for best-in-class developers like Nuvo who want a long-term hold.” The Talonvest team members responsible for this assignment included Erich Pryor and Jim Davies.

About Talonvest

Talonvest Capital, Inc. is a boutique real estate firm providing advisory services to self storage and commercial real estate investors, owners, and developers throughout the United States. The firm utilizes a unique collaborative team approach and four decades of institutional knowledge and expertise from the team members to deliver better capital solutions for its clients.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0d8ac34b-ffd2-439c-af2d-517b5b8607aa

ti?nf=NzY5Mzc5OCMzMDc0NzE0IzUwMDAzNDUzNw==
Contact:
Amanda Waite
Talonvest Capital, Inc.
949.648.0337
[email protected]

Primary Logo

Class-A, institutional quality self storage facility

Located at 1599 Memorial Dr. SE in Atlanta, GA
GlobeNewsWire
GlobeNewsWire

GlobeNewswire es una de las redes de distribución de noticias por cable más grandes del mundo, que se especializa en la entrega de comunicados de prensa corporativos, divulgaciones financieras y contenido multimedia a los medios, inversionistas y lectores de todo el mundo.