Talonvest Closes $35 Million in Commercial Loans
(firmenpresse) - IRVINE, CA -- (Marketwired) -- 12/29/15 -- Talonvest Capital, Inc., a growing boutique commercial real estate advisor, is pleased to announce the successful funding of five more commercial property loans secured by office, industrial, and apartment properties. The individual financings included:
$5,700,000 acquisition/bridge loan for The Bascom Group secured by Courtyard on 68th, a multifamily property located in San Diego, CA. Talonvest structured a 3-year, floating rate loan with future advances for capital improvements through a regional bank.
$9,650,000 refinance loan for Indiana Business Park, a six building, 149,800 sf, multi-tenant property in Riverside, CA. A 5-year, fixed rate conduit loan with three years of IO was negotiated on behalf of CIP Real Estate with a CMBS lender.
$4,000,000 loan for the refinance of White Oak Business Park, consisting of four free-standing industrial buildings in Rancho Cucamonga, CA owned by Bruce McDonald of McDonald Property Group and Bryan Bentrott of Summit Development Corporation. A national bank provided a 4-year floating rate balance sheet loan with individual releases, limited recourse, interest only and extension provisions.
$3,900,000 fixed rate, 10-year conduit loan for the refinance of Royal Lane, a 73,300 sf multi-tenant office building in Irving, TX. The loan was structured with a subsidiary of a merchant banking firm on behalf of Spiegel Development, Inc.
$11,750,000 acquisition loan secured by Milliken Business Park, a 157,700 sf, twelve building property in Ontario, CA. A non-recourse, on-book loan acquisition loan was negotiated for CIP Real Estate with a money center bank. The structure includes IO for most of the loan term plus prepayment flexibility.
Jerry Fink, Managing Partner of The Bascom Group, commented, "Within a short time frame Talonvest orchestrated a competitive bid, delivered a new lending relationship, and negotiated an attractive rate and loan structure. They delivered results for the Bascom team." Chuck McKenna, Principal of CIP Real Estate, added, "We appreciate the capital connections and deal structuring, but equally important is Talonvest''s attention to the process through successful closing." The Talonvest team handling these financings included Tom Sherlock, Eric Snyder, Jim Davies, and Kim Leslie.
Talonvest Capital is a boutique real estate firm providing advisory services to commercial and self storage real estate investors, owners, and developers throughout the United States. The firm''s principals have over 80 years of combined experience structuring loans and equity investments for office, industrial, retail, apartment, and self storage properties.
Contact:
Amanda Waite
949.648.0337
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Datum: 29.12.2015 - 09:00 Uhr
Sprache: Deutsch
News-ID 1406515
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