Davies
COSTA MESA, CA-Self-storage industry financing veteran Jim Davies has joined Talonvest Capital Inc. as a principal at the locally based firm, joining principals Eric Snyder and Tom Sherlock, both formerly of Buchanan Street Partners. Talonvest, which specializes in financing for self-storage assets, recently launched a new non-recourse, fixed-rate loan program for self-storage owners nationwide.
Davies, one of the nation’s leading self storage finance experts with over 28 years experience as a direct lender and structured finance adviser, has closed approximately $3.5 billion of debt, equity and investment sales on self-storage properties. Along with Snyder, Davies previously co-founded Buchanan Storage Capital, a leading provider of capital to the self-storage industry.
At Talonvest, Davies' primary responsibilities include developing and managing client relationships with self-storage and commercial real estate owners, providing them with loans and capital advisory services respectively. Davies joins Talonvest from Belgravia Capital where he was a managing director.
Snyder
Sherlock commented, “Self-storage clients of Talonvest will be the big beneficiaries of Jim joining the team. He brings a wealth of financing experience, client service and industry leadership to every relationship.”
In addition to his duties as an executive in the self-storage finance industry, Davies is the founder and organizer of the annual Self Storage Owners Summit. He and his fellow California Self Storage Association board members will be hosting the seventh annual Summit on July 21 this year at the Balboa Bay Club in Newport Beach, CA.
Talonvest structures equity and debt on a third party basis for experienced real estate owners and operators throughout the US. Terms for the firm's recently launched non-recourse, fixed-rate loan program for self-storage owners include a minimum $3 million loan amount, 70% maximum loan-to-value, 10% minimum debt yield, 1.25 minimum debt coverage ratio, five- to 10-year fixed rates and 30-year amortization.
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