IRVINE, Calif., November 04, 2021 (GLOBE NEWSWIRE) – Talonvest Capital, Inc., a retail and self-service consulting firm, has successfully negotiated a $ 7,450,000 refinancing loan for a business park of two buildings in Doraville, GA on behalf of long-time 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 I-85 in the Northeast Atlanta Corridor. The project is less than five minutes from the upscale neighborhoods of Buckhead and Chamblee and 25 minutes from downtown Atlanta. A national bank financed the 3-year interest-only loan which included SOFR as an index, several extension options, no prepayment penalty and a very attractive low interest rate. Bob Strom, President of CIP Real Estate, commented: âOnce again, Talonvest has offered us attractive loan terms and prices thanks to its knowledge of capital markets and extensive relationships.
Talonvest is pleased to announce the closing of a refinance loan for Red Hill Estates II, a 100% occupied prefabricated housing community located in Red Hill, Pennsylvania. The 20-acre site shares a pavilion and entrance and exit with the adjacent community of Red Hill I. Talonvest structured the $ 4,022,000 non-recourse loan with a fixed interest rate of 3.46% for ten years. and interest payments only for the entire term. The new loan helped to recover equity for the owners. Despite the increase in Treasury yields as the close approached, Talonvest was able to negotiate a 9 basis point reduction in the credit spread in order to preserve the credit proceeds.
The members of the Talonvest team responsible for these transactions included John Chase, Jim Davies, Erich Pryor, Mason Brusseau, Tom Sherlock and Thalia Tovar.
Talonvest Capital, Inc. is a specialty real estate company providing advisory services to investors, owners and developers of commercial and self-storage real estate throughout the United States. The company uses a unique collaborative team approach and four decades of institutional knowledge and team member expertise to deliver better capital solutions to its clients.
About CIP Immobilier
CIP Real Estate LLC is a full-service real estate investment firm focused on the acquisition, repositioning, rebranding and management of industrial assets in the West Coast, Southeast and Texas markets. Founded in 1995 and headquartered in Irvine, Calif., 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