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May 21, 2024
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Commercial Real Estate Financing Briefs


TALONVEST CAPITAL - Kim Bishop, Jim Davies, Tom Sherlock, Mason Brusseau, and Lauren Maehler with Talonvest Capital closed a $65 mil, non-recourse bridge loan for a seven-asset, self-storage portfolio located in Texas, Florida, and North Carolina. The loan, secured on behalf of a joint venture between Andover Properties and Angelo Gordon, was funded by a global real estate investment management firm. The portfolio has five physically stabilized properties and two lease-up assets and included several nuances, including recently completed and to-be-completed expansions. The properties are in high-visibility locations within growing markets and total over 597k sf across 3,963 units.

NORTHMARQ Ory Schwartz with Northmarq arranged $35 mil in refinancing on The Vineyards at Porter Ranch, a 203.2k sf retail property in Porter Ranch. Built in 2019, the property is located at 20039-20209 Rinaldi St, just off the Ronald Reagan Freeway. The Vineyards at Porter Ranch is a mixed-use development with an open-air mall, restaurants, shops, a hotel, movie theaters, and luxe apartments. The shopping center includes national retailers such as Whole Foods Market, Nordstrom Rack, AMC, and Ulta Beauty. The permanent-fixed rate loan was structured on a 10-year term on a 30-year amortization schedule. It was funded through a life insurance company.

GANTRY Tim Storey with Gantry secured a $4.95 mil life company loan for the value-add acquisition of a 56k sf suburban office space on approximately four acres. The two-story building offers 278 parking spaces and is located at 2225 W. Peoria Ave in Phoenix, within the Black Canyon Commerce Park, a 16-acre master planned business complex. Vacant space at the property is formatted for medical office as well as general professional uses. The borrower is an experienced private real estate investor. The fixed rate, short term bridge loan was provided by a life company lender.

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