Talonvest Capital Procures Refinance Loan for Class A Office Building
IRVINE, CA–(Marketwired – January 03, 2018) – Talonvest Capital, Inc. successfully negotiated and closed an $18.25 million bridge loan to refinance a maturing bank loan and provide additional funds for tenant improvements and leasing costs at Emerald Lake Corporate Centre in Carlsbad, CA. The non-recourse, LIBOR based floating rate loan, provided by a private commercial real estate finance company with discretionary capital, has a two-year initial term with extension options for an additional three years. Scott Brusseau, President of Newport National Corporation, commented, “The Talonvest team utilized its capital market expertise and vast lending network to quickly deliver the right lender with good terms and the ability to close in a timely manner.”
Emerald Lake Corporate Centre is an 83,917-square foot, three-story, Class A, Energy Star certified office building located at the northwest entrance to the Carlsbad Research Center. Located at 1525 Faraday in Carlsbad, CA, the property offers quick access to I-5 via Cannon Road, panoramic views of the adjacent open space, beautiful exterior common areas including lush exotic tropical landscaping and koi ponds, a two-story lobby, and nine foot ceilings throughout. In addition, the property is in close proximity to retail, restaurants, and services. Talonvest Principal Tom Sherlock noted, “We were pleased to quickly pair the right lender with Newport National and negotiate pricing, terms, and structure that resulted in a better loan for our client.” The Talonvest team involved in this transaction included Sherlock, Erich Pryor, and Eric Snyder.
Talonvest Capital, Inc. is a boutique real estate firm that provides advisory services to commercial and self storage real estate investors, owners, and developers throughout the United States. The principals of the firm have over 85 years of combined experience structuring loans and equity investments for office, industrial, retail, self storage, and apartment properties.
About Newport National Corporation:
Newport National Corporation (NNC) is a full-service, vertically integrated real estate company based in Carlsbad, California. NNC was founded in 1973 and incorporated in 1975 by Mr. F.M. “Bruce” Brusseau. NNC is currently run by its President, Scott R. Brusseau and Senior Vice President, Jeffry A. Brusseau. NNC’s business strategy has and continues to be the acquisition, development and management of prime commercial real estate properties in dynamic growth areas. One of NNC’s key objectives is to provide private and institutional investors with exceptional services and investment performance. The firm has developed and managed a diverse portfolio of approximately 2,137 acres & 4,354,000 square feet including low and mid-rise office, power centers, shopping centers, free-standing industrial, multi-tenant industrial, research and development, business parks and master planned residential properties. NNC has developed its properties throughout the western United States in California, Arizona, and Colorado, with a particular emphasis in San Diego County, California.
Contact: Amanda Waite