IRVINE, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique commercial and self storage advisory firm, successfully negotiated a $7,450,000 refinance loan for a two-building business park in Doraville, GA on behalf of longtime client, CIP Real Estate in partnership with Almanac Realty Investors. Pleasantdale Industrial Park has 127,391 net rentable square feet and benefits from its dynamic location adjacent to the I-85 in the Northeast Atlanta Corridor. The project is less than five minutes from the high-end areas of Buckhead and Chamblee and 25 minutes from Downtown Atlanta. A national bank funded the 3-year interest only loan that featured SOFR as the index, multiple extension options, no prepayment penalty, and a very attractive low interest rate. Bob Strom, Chairman of CIP Real Estate, commented “Once again, Talonvest delivered attractive loan terms and pricing to us through their capital markets knowledge and extensive relationships.”
Talonvest is pleased to announce the closing of a refinance loan for Red Hill Estates II, a 100% occupied Manufactured Housing Community located in Red Hill, PA. The 20-acre site shares a clubhouse and ingress and egress with the adjacent Red Hill I community. Talonvest structured the $4,022,000 non-recourse loan with a fixed 3.46% interest rate for ten years and interest only payments for the full term. The new loan provided equity recapture for the owners. Despite the increase in Treasury yields as closing approached, Talonvest was able to negotiate a 9-basis point reduction in the loan spread to preserve loan proceeds.
The Talonvest team members responsible for these transactions included John Chase, Jim Davies, Erich Pryor, Mason Brusseau, Tom Sherlock, and Thalia Tovar.
About Talonvest
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 CIP Real Estate
CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast, and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages approximately 6.7 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, and Atlanta. www.ciprealestate.com
