{"id":1004155515,"date":"2016-10-14T12:09:41","date_gmt":"2016-10-14T20:09:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155515"},"modified":"2022-08-03T01:19:59","modified_gmt":"2022-08-03T09:19:59","slug":"talonvest-secures-16m-loan-for-charlotte-business-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-16m-loan-for-charlotte-business-park\/","title":{"rendered":"Talonvest Secures $16M Loan for Charlotte Business Park"},"content":{"rendered":"

by Laura Calugar<\/p>\n

\"\"<\/a>

Whitehall I<\/p><\/div>\n

Charlotte, N.C.<\/strong>\u2014Talonvest Capital Inc.<\/a> has recently funded a $16.1 million non-recourse, four-year bank balance sheet bridge loan for the value-add acquisition of two Class A multi-tenant industrial<\/a> and flex properties. Known as Whitehall I and II, the facilities consist of two buildings with a total of 204,900 square feet, located within the 700-acre Whitehall Master Plan in the Southwest Charlotte submarket.<\/p>\n

Negotiations with the lender resulted in the four-year loan<\/a> being priced at 2.1 percent over Libor. The loan structure featured a low interest rate with interest-only payments for the full term, future advances for leasing-related costs and individual release provisions for maximum borrower flexibility.<\/p>\n

\"\"<\/a>

Whitehall II<\/p><\/div>\n

The loan was secured on behalf of CIP Real Estate<\/a> and its joint venture equity partner, CrossHarbor Capital Partners,<\/a> a Boston-based investment management firm.<\/p>\n

CIP Real Estate purchased<\/a> the properties for $22 million this past May from Fort Properties.<\/p>\n

\u201cTalonvest was once again an integral part of our team and negotiated the best rate and terms for our project,\u201d said Chuck McKenna, one of CIP\u2019s principals, in a prepared statement.<\/p>\n

\u201cWe\u2019re grateful for the opportunity to work with the experienced professionals at CIP and CrossHarbor and to close another successful financing with them,\u201d\u00a0added Eric Snyder, principal at Talonvest.<\/p>\n

The Talonvest team handling the transaction included Snyder, Sherlock, Erich Pryor and Carole Stanley.<\/p>\n

Images courtesy of American Asset Corp<\/a>.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Whitehall I and II total 204,900 square feet and are located within the 700-acre Whitehall Master Plan.<\/p>\n","protected":false},"author":238,"featured_media":1004155516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21825,21748,21742],"tags":[],"class_list":["post-1004155515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-finance","category-industrial","category-latest"],"acf":[],"yoast_head":"\nTalonvest Secures $16M Loan for Charlotte Business Park - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-16m-loan-for-charlotte-business-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talonvest Secures $16M Loan for Charlotte Business Park\" \/>\n<meta property=\"og:description\" content=\"Whitehall I and II total 204,900 square feet and are located within the 700-acre Whitehall Master Plan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-16m-loan-for-charlotte-business-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-14T20:09:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T09:19:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Large-WhitehallTech-I-714x430.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"714\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-16m-loan-for-charlotte-business-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/talonvest-secures-16m-loan-for-charlotte-business-park\/\",\"name\":\"Talonvest Secures $16M Loan for Charlotte Business Park - 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