Talonvest Capital Negotiates $10.5M Financing for Business Park
(firmenpresse) - IRVINE, CA -- (Marketwired) -- 04/21/15 -- Talonvest Capital, Inc. successfully negotiated and closed a $10.5 million floating rate loan secured by the Charlotte Commerce Center, a 167,500 square foot, multi-building, multi-tenant property located in Charlotte, NC on behalf of Irvine, CA based CIP Real Estate and their joint venture partner, Baltimore-based Alex. Brown Realty. The ownership utilized the non-recourse bank balance sheet loan priced at a low spread over LIBOR to pay off the maturing existing loan. The starting effective interest rate for the refinance loan is below 2.75% and the loan provides the borrower with prepayment flexibility. The financing was provided by a U.S. based money center bank. Bob Strom, one of the Co-Founding Principals of CIP, shared, "Talonvest was instrumental in establishing this valuable new lending relationship for our firm".
The Talonvest team that structured the loan and managed negotiations with a broad base of potential lenders included Tom Sherlock, Eric Snyder, Kim Leslie, Carole Stanley, and Laura Bogart. "CIP and Talonvest have worked together successfully on multiple assignments over the past five years" noted Sherlock. "The quality of the asset coupled with the extraordinary experience and reputation of CIP contributed to the spirited competition we orchestrated among a variety of potential lenders. This competition led directly to the excellent pricing and structure we delivered for CIP," he added.
Charlotte Commerce Center is located at 4101 - 4321 Stuart Andrew Boulevard in Charlotte, North Carolina and consists of nine single-story office/flex/warehouse buildings on a 15.19 acre parcel. The property enjoys a 1,500 feet of frontage on Interstate 77 and continually reports very high occupancy rates and tenant demand.
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 80 years of combined experience negotiating loans and equity capital for office, industrial, retail, self- storage, and apartment properties throughout the United States.
Contact:
Amanda Waite
Talonvest Capital, Inc.
949.648.0337
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Datum: 21.04.2015 - 12:00 Uhr
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News-ID 387214
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IRVINE, CA
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Commercial Real Estate
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