IRVINE, Calif., Oct. 07, 2022 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc. and their long-time client, The Bascom Group, LLC, are pleased to announce the refinance of The Island Apartments, a 78-unit apartment community in Pico Rivera, CA. The garden style multifamily community is situated on 1.54 acres and provides residents a superior location with convenient access to premier retail centers, dining, entertainment venues, and employment hubs.
The four-year floating rate financing priced at a low spread over SOFR with 24 months of interest only payments, a 12-month extension option, and prepayment flexibility was funded by a regional bank. Joe Ferguson, Acquisition Manager at Bascom commented, “The Talonvest team exceeded our expectations in a highly turbulent lending environment, and we were very impressed with their execution from start to finish.” Jerry Fink, Managing Partner at Bascom, added “We have closed many financings with the Talonvest team, and they continue to deliver competitive financing with certainty of close. Their capital markets knowledge and process management continue to impress us.” The Talonvest team representing Bascom on this assignment included Tom Sherlock, Eric Snyder, and Thalia Tovar.
About Talonvest Capital, Inc.:
Talonvest Capital, Inc. 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 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.
About Bascom:
Bascom is a private equity firm specializing in multifamily, commercial, non-performing loans, and real estate related investments and operating companies. Bascom sources value-add and distressed properties through foreclosure, bankruptcy, or short sales, and repositions them by adding extensive capital improvements, improving revenue, and reducing expenses using institutional-quality property management. Bascom, founded by principals Jerry Fink, David Kim, and Derek Chen, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $20.7 billion in multifamily and commercial value-added transactions including more than 350 multifamily properties containing over 90,000 units.
| Contact: | Daniela Valencia |
| Talonvest Capital, Inc. | |
| 949.387.2368 | |
| dvalencia@talonvest.com |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab186371-e0e6-4167-8089-5ea4b9dc25e8
