Talonvest Closes $35M in Commercial Loans

IRVINE, CA—Talonvest Capital, Inc., a growing boutique commercial real estate advisor, says it has successful funded five more commercial property loans secured by office, industrial, and apartment properties.  The individual financing deals included:

• A $5.7 million acquisition/bridge loan for The Bascom Group secured by Courtyard on 68th, a multifamily property located in San Diego.  Talonvest structured a 3-year, floating rate loan with future advances for capital improvements through a regional bank.

• A $9.6 million refinance loan for Indiana Business Park, a six building, 149,800 sf, multi-tenant property in Riverside, CA.  A 5-year, fixed rate conduit loan with three years of IO was negotiated on behalf of CIP Real Estate with a CMBS lender.

• A $4 million loan for the refinance of White Oak Business Park, consisting of four free-standing industrial buildings in Rancho Cucamonga, CA owned by Bruce McDonald of McDonald Property Group and Bryan Bentrott of Summit Development Corporation.   A national bank provided a 4-year floating rate balance sheet loan with individual releases, limited recourse, interest only and extension provisions.  

• A $3.9 million fixed rate, 10-year conduit loan for the refinance of Royal Lane, a 73,300 sf multi-tenant office building in Irving, TX.  The loan was structured with a subsidiary of a merchant banking firm on behalf of Spiegel Development, Inc. 

• An $11.7 million acquisition loan secured by Milliken Business Park, a 157,700 sf, twelve building property in Ontario, CA.  A non-recourse, on-book loan acquisition loan was negotiated for CIP Real Estate with a money center bank.  The structure includes IO for most of the loan term plus prepayment flexibility.

Jerry Fink, managing partner of The Bascom Group, commented “within a short time frame Talonvest orchestrated a competitive bid, delivered a new lending relationship, and negotiated an attractive rate and loan structure.  They delivered results for the Bascom team.”