Reframe Secures $51M Loan for Texas Storage Acquisition
Deal News | May 20, 2025 | Globenewswire
Talonvest Capital, a boutique commercial real estate mortgage brokerage firm, has successfully closed a $51,317,000 acquisition loan for Reframe Holdings. The loan will fund the acquisition of the Steelcreek Portfolio, which consists of eight self-storage facilities in key Texas markets: Dallas, Austin, and Houston. This portfolio spans approximately 620,000 square feet including storage units, parking, industrial units, and retail spaces. Reframe's post-acquisition strategy includes rebranding the properties with management provided by Extra Space Storage and CubeSmart and enhancing them through strategic capital improvements. The loan, secured from a national bank, is characterized by its non-recourse, low-interest rate, and five-year floating term, delivered with maximum flexibility, thanks to Talonvest's expertise and thorough engagement in the process. Reframe's Co-Founder, Matt Dicker, praised Talonvest's role and sector knowledge as pivotal in the transaction's success. Talonvest team members involved were instrumental in negotiating and finalizing the loan.
Sectors
- Commercial Real Estate
- Finance
Geography
- United States – The transaction involves properties located in Texas, and the firms involved are based in the US.
- Texas – The acquired self-storage facilities are located in key markets within Texas, specifically Dallas, Austin, and Houston.
Industry
- Commercial Real Estate – The deal involves the acquisition of a portfolio of self-storage facilities, a key asset class within commercial real estate.
- Finance – The transaction centers around the negotiation and closing of a significant acquisition loan, highlighting activity in the finance and lending sectors.
Financials
- $51,317,000 – The amount of the acquisition loan secured by Talonvest Capital for Reframe Holdings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Talonvest Capital, Inc. | Financial Advisor | Company | A boutique commercial real estate mortgage brokerage firm that negotiated the acquisition loan. |
| Reframe Holdings | Buyer | Company | A commercial real estate investment owner, manager, and sponsor that acquired the self-storage portfolio. |
| Extra Space Storage | Third-Party Manager | Company | To manage six of the acquired storage facilities post-acquisition. |
| CubeSmart | Third-Party Manager | Company | To manage two of the acquired storage facilities post-acquisition. |
| National Bank | Lender | Company | Provided the non-recourse, low-interest, floating rate acquisition loan. |
| Matt Dicker | Co-Founder and Managing Partner | Person | Co-Founder and Managing Partner of Reframe Holdings, praised Talonvest's role in the transaction. |