SOURCE: Talonvest Capital

Talonvest Capital

October 15, 2014 11:00 ET

Talonvest Capital Closes $37.8 Million Loan for Portfolio of Business Parks

IRVINE, CA--(Marketwired - Oct 15, 2014) - Talonvest Capital, Inc. successfully negotiated and closed a $37.8 million bridge loan secured by three business parks consisting of 595,400 square feet located in Charlotte, NC. The initial lender negotiations were focused on providing maximum flexibility in the advance rate, obtaining a creative prepayment structure, and procuring an attractive interest rate and terms. While the lender funded a 75% loan with one year of open prepayment and one year of interest only payments, the loan application provided the borrower with options for 75%, 80%, and 85% advances and options for open prepayment at par in the final 24, 18, 12, 6, and 3 months. The 5-year fixed rate, non-recourse loan was provided by a mortgage REIT headquartered in New York. After the loan funding, Bob Strom, a Co-Founding Principal of CIP Real Estate, commented, "Talonvest exhibited extraordinary influence and agility in negotiating and closing our recent major refinance."

The Talonvest team that managed to create a broad based, competitive market for this loan included Tom Sherlock, Eric Snyder, Carole Stanley, and Laura Bogart. Sherlock noted, "the competition for this loan was fierce, and that was directly related to the quality of the sponsorship and the assets." Snyder added, "Talonvest has worked with CIP multiple times, and we believe our unique team approach within a boutique firm helps differentiate us in the marketplace."

The Charlotte Portfolio consists of three business parks totaling almost 600,000 square feet of rentable space. The individual assets are known as Coffey Creek International Business Center, Hickory Grove Business Park, and Lake Norman Commerce Center. These properties offer newly renovated suites and buildings in professional corporate settings with convenient access to Charlotte Douglas International Airport; East Charlotte near Independence Blvd, I-85, and I-485; and Lake Norman respectively.

About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate firm providing advisory services to commercial and self storage real estate investors, owners and developers nationally. The principals of the firm have over 75 years of combined experience structuring loans and equity investments for office, industrial, retail, self storage and apartment properties throughout the United States.

Contact Information

  • Contact:
    Amanda Waite
    Talonvest Capital, Inc.
    949.648.0337
    Email Contact