Talonvest Expands Team and Closes $24.1M Business Park Loan
(firmenpresse) - IRVINE, CA -- (Marketwired) -- 12/10/15 -- Talonvest Capital, Inc., a growing boutique real estate advisor serving clients throughout the United States, is pleased to announce the recent hiring of Erich Pryor as its newest Relationship Manager. In his role at Talonvest, Mr. Pryor will oversee client transactions including the underwriting, packaging, and placing of debt and equity capital through managed competitive lender bids. He will be influential in expanding and deepening relationships with capital providers, resulting in more effective negotiations of loan structure and terms on behalf of the firm's clients while delivering a smoother, more efficient closing process. Mr. Pryor gained significant commercial real estate industry experience at GE Capital, LT Realty Ventures, and The Bascom Group. He is a graduate of UCLA and a licensed real estate salesperson. Talonvest principal Tom Sherlock commented, "Erich's capital market knowledge, existing lender relationships, and history with commercial owners will allow him to make an immediate impact for our clients."
Additionally, Talonvest is also pleased to announce the successful funding of a $24,150,000 acquisition loan secured by College Business Park, a 94% occupied, 17 building, multi-tenant business park situated on a 24.4 acre site in Upland, CA. The insurance company loan was secured on behalf of Irvine, CA based CIP Real Estate. Bob Strom, one of CIP's three principals, shared "the early rate lock when rates were increasing, an open window for prepayment without penalty during the last two and a half years of the loan, and the extra year of interest-only payments that Talonvest negotiated helped make this an even better investment for us." Negotiations with the lender resulted in a 4.1% interest rate fixed for five years, three years of interest-only loan payments, and no prepayment penalty for the last half of the loan term. Talonvest Principal Eric Snyder noted, "This is our seventh successful loan closing with the CIP team and the lenders have ranged from regional and national banks to debt funds to CMBS to life companies. We're proud to work with respected commercial real estate owners like CIP on a wide variety of financing structures." The Talonvest team handling the transaction included Eric Snyder, Tom Sherlock, Carole Stanley, and Kim Leslie.
Talonvest Capital is a boutique real estate firm that provides advisory services to commercial and self storage real estate investors, owners, and developers throughout the United States. The principals of the firm have over 80 years of combined experience structuring loans and equity investments for office, industrial, retail, self storage, and apartment properties.
CIP Real Estate ("CIP") was founded in 1995 as a real estate investment company specializing in the acquisition, development, repositioning and management of office, business and industrial parks. CIP and its institutional partners have acquired approximately 6 million square feet of office, business and industrial parks with an acquisition value in excess of $1 Billion. Headquartered in Irvine, California, CIP also has full service real estate offices in Ontario, California; Las Vegas, Nevada; and Charlotte, North Carolina.
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Amanda Waite
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Datum: 10.12.2015 - 17:55 Uhr
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News-ID 438965
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IRVINE, CA
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Commercial Real Estate
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