{"id":1004166083,"date":"2017-02-07T04:47:15","date_gmt":"2017-02-07T12:47:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004166083"},"modified":"2022-12-08T17:52:48","modified_gmt":"2022-12-09T01:52:48","slug":"talonvest-negotiates-28m-loan-for-san-diego-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\/","title":{"rendered":"Talonvest Negotiates $28M Loan for San Diego Office Asset"},"content":{"rendered":"

By IvyLee Rosario<\/p>\n

San Diego\u2014<\/strong>Talonvest Capital Inc. has\u00a0negotiated the funding of a $28 million bridge loan for the value-add acquisition of Summit Pointe in San Diego for Newport National Corp.\u00a0The loan structure featured interest-only payments for the full three-year term, two one-year extension options and individual release provisions for maximum borrower flexibility.\u00a0Talonvest negotiated the loan with Mesa West Capital.<\/p>\n

\"Summit<\/a>

Summit Pointe in San Diego<\/p><\/div>\n

The Class A, 146,500-square-foot, four-story office building sits on 21 acres in the Sabre Springs\/I-15 Corridor submarket and had a zero percent occupancy at loan closing, as the seller was the owner and sole occupant.<\/p>\n

Newport National plans extensive exterior and interior renovations to the existing building, as well as adding on a second-phase, 179,250-square-foot building to create an innovative office campus. Finished plans will include new lobbies, multi-tenant common areas with indoor\/outdoor venues, a conference center, an indoor\/outdoor fitness center, an outdoor kitchen, sports courts, collaboration areas, fire pits, an event conference terrace and a food truck venue.<\/p>\n

“We’re grateful for the opportunity to work with such experienced professionals. Newport National Corp. recognized that this multi-phase property represents a unique scenario of a full entitled project in a supply constrained market,” said Eric Snyder, a principal at Talonvest, in prepared remarks.<\/p>\n

The Talonvest team handling the transaction included Snyder; Tom Sherlock, principal; Erich Pryor, relationship manager; and Carole Stanley, financial analyst.<\/p>\n

Image courtesy of Newport National Corp.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner plans to add a second-phase, 179,250-square-foot building.<\/p>\n","protected":false},"author":746,"featured_media":1004166092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21742,21747,1608,15],"tags":[33855,33240,33733,33581],"class_list":["post-1004166083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-latest","category-office","category-san-diego","category-west","tag-eric-snyder","tag-mesa-west-capital","tag-newport-national-corp","tag-talonvest-capital-inc"],"acf":[],"yoast_head":"\nTalonvest Negotiates $28M Loan for San Diego Office Asset - 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-negotiates-28m-loan-for-san-diego-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talonvest Negotiates $28M Loan for San Diego Office Asset\" \/>\n<meta property=\"og:description\" content=\"The new owner plans to add a second-phase, 179,250-square-foot building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\/\" \/>\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=\"2017-02-07T12:47:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:52:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Summit-Pointe.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"Talonvest Negotiates $28M Loan for San Diego Office Asset\",\"datePublished\":\"2017-02-07T12:47:15+00:00\",\"dateModified\":\"2022-12-09T01:52:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/\"},\"wordCount\":254,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/02\\\/Summit-Pointe.jpg\",\"keywords\":[\"Eric Snyder\",\"Mesa West Capital\",\"Newport National Corp.\",\"Talonvest Capital Inc.\"],\"articleSection\":[\"Deals\",\"Finance\",\"News\",\"Office\",\"San Diego\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/talonvest-negotiates-28m-loan-for-san-diego-office-asset\\\/\",\"name\":\"Talonvest Negotiates $28M Loan for San Diego Office Asset - 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