IRVINE, Calif., Feb. 07, 2018 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc. successfully negotiated and structured an $18 million acquisition-bridge loan secured by Eden Landing, a 195,044 square foot, 10-building business park in Hayward, CA on behalf of CIP Real Estate. The non-recourse bridge loan was funded by a national banking institution and priced at LIBOR plus 2.50% with interest only payments during the initial three-year term. Prepayment flexibility and extension options were also negotiated for the borrower. Bob Strom, Principal of CIP Real Estate, commented, “Based on experience, we know Talonvest tenaciously protects our time and money throughout the lender competition, underwriting, due diligence, and closing processes. They don’t stop working until after the loan funds.” The subject loan closed in six weeks.
Spread over an 11-acre site, Eden Landing Business Park’s multiple buildings and suite sizes provide leasing flexibility, while also allowing tenants the ability to expand and grow within the portfolio. CIP plans various capital improvements at the property including roofing, HVAC, and parking lot improvements. Eden Landing offers an excellent East Bay location with direct access to SR-92 and the San Mateo Bridge. Furthermore, the property provides easy access to the San Francisco, San Jose and Oakland airports. Talonvest Principal Tom Sherlock noted, “It’s rewarding to work with seasoned pros like the CIP team. We’re pleased that our knowledge and relationships led to a better capital solution for them and that we could execute so quickly.” The Talonvest team involved in this transaction included Sherlock, Erich Pryor, Eric Snyder, and Terra Hendrich.
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 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 Real Estate and its institutional partners have purchased 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 Real Estate also has full service real estate offices in Ontario, California; Las Vegas, Nevada; and Charlotte, North Carolina.
Contact: Amanda Waite Talonvest Capital, Inc. email@example.com
Source:Talonvest Capital, Inc.