Talonvest Negotiates $10 Million Loan for Orange County Industrial Parks
IRVINE, Calif., June 06, 2022 (GLOBE NEWSWIRE) — Commercial real estate advisory firm Talonvest Capital, Inc. is proud to announce the recent closing of a $10,000,000 permanent loan for a private owner / operator of industrial real estate assets in Southern California. The non-recourse loan was secured by a single-tenant industrial building in Santa Ana, CA and a multi-tenant property in Huntington Beach, CA. Together the properties total 85,930 net rentable square feet. Both assets offer convenient access to state and local freeways, dense populations, and low unemployment rates which continue to fuel tenant demand in Orange County, one of the hottest industrial markets in the country boasting strong rents and low vacancy rates driven by deep demand and low inventory.
The loan was funded by a national credit union and featured a seven-year term, interest-only payments for the full term, no repayment guaranty, and an early rate lock at application which resulted in a very attractive 4.105% interest rate in today’s dynamic rate environment. The borrower’s CEO commented, “I couldn’t speak more highly of the support and counsel the Talonvest team provided in the end-to-end process, from sourcing a great loan through a competitive process all the way to post-close tidy-up. I don’t think we would have gotten the deal done without their expertise and hard work.” The Talonvest team responsible for this assignment included David DiRienzo, Tom Sherlock, Kim Bishop, Ivan Viramontes, and Thalia Tovar.
About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate firm that providing advisory services to commercial and self-storage real estate investors, owners, and developers throughout the United States. The firm utilizes a collaborative team approach, emphasizing the institutional knowledge and expertise gained over the past four decades by its team members, to structure superior capital solutions for its clients.
Contact:
Savannah Baron
Talonvest Capital, Inc.
949.679.5698
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d4856e4-96b3-47b6-a58a-f7976a304d2e
