Talonvest Capital Facilitates Major Bridge Loan
Talonvest Capital, Inc. has successfully arranged a substantial bridge loan amounting to $21,500,000. This financing is aimed at refinancing a newly developed, Class-A multifamily building situated in a vibrant neighborhood in Los Angeles. The secured loan exemplifies Talonvest's capabilities as a leading commercial real estate advisory firm.
Details of the Property and Financing
The property, known as Kanvas Apartments, is located at 905 South Vermont Avenue and features a diverse mix of units. Specifically, it includes 67 units: 13 stylish studio units, 33 one-bedroom units with one bathroom, and 21 two-bedroom units also with one bathroom. The ground floor is enhanced by retail space, providing further appeal to potential tenants.
Features That Set It Apart
Notably, Kanvas Apartments distinguishes itself from competitors thanks to its panoramic rooftop views and high-end finishes, which include premium plumbing fixtures. Additional amenities such as on-site parking help boost its attractiveness to residents. The strategic location facilitates convenient access to local markets, ensuring that tenants have essential services at their fingertips.
Successful Negotiations by Talonvest
Talonvest Capital engaged in strategic negotiations with a debt fund to secure this financing arrangement. The result is a non-recourse, three-year bridge loan inclusive of two 12-month extension options. Impressively, Talonvest managed to secure a 3.95% reduction in the pay rate compared to the previous loan, representing significant savings for the borrower.
Feedback from EGC Real Estate
Ron Gonen, the President of EGC Real Estate, commended Talonvest's exceptional efforts during the transaction, stating, "The Talonvest team delivered outstanding results, managing the transaction effectively from start to finish. Their professionalism and keen attention to detail were outstanding."
About Talonvest Capital
Talonvest Capital stands as a premier commercial real estate advisory firm, dedicated to sourcing innovative capital solutions and providing strategic guidance in capital markets. With a focus on a variety of property types, including industrial, self-storage, multifamily, office, and retail, Talonvest leverages over 40 years of institutional experience. Their boutique approach ensures that clients receive personalized support, enhancing outcomes for all stakeholders involved.
Contact Information for Inquiries
For further information or inquiries about Talonvest Capital's services, individuals can reach out to:
Carole Stanley
Talonvest Capital, Inc.
Phone: 949.251.9900
Email: cstanley@talonvest.com
Frequently Asked Questions
What type of loan did Talonvest Capital secure?
Talonvest Capital arranged a $21.5 million bridge loan for the refinance of a newly developed multifamily building.
Where is the Kanvas Apartments located?
Kanvas Apartments is located at 905 South Vermont Avenue in Los Angeles.
What distinguishes Kanvas Apartments from other properties?
Kanvas Apartments offers panoramic rooftop views, on-site parking, and high-end finishes that enhance its appeal.
Who is the president of EGC Real Estate?
Ron Gonen is the president of EGC Real Estate and acknowledged Talonvest’s efforts in managing the transaction.
How many units does Kanvas Apartments have?
Kanvas Apartments comprises 67 units, including studios and one- and two-bedroom apartments.
