Talonvest Secures $24M Loan on Business Park & Names New Director - Business Development
Nine building multi-tenant industrial property in Alpharetta, GA
Talonvest names DiRienzo Director - Business Development
IRVINE, Calif., Feb. 09, 2022 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc. and longstanding client CIP Real Estate have successfully closed another loan together. This recent $24,481,600 loan facilitated the acquisition of a nine building multi-tenant industrial property in Alpharetta, GA on behalf of CIP Real Estate and their partner Almanac Realty Investors. Mansell Commons, the 223,251 net rentable square foot property, is a great addition to CIP’s existing 1.5 million square foot portfolio in Atlanta and establishes a foothold in the outstanding Alpharetta sub-market where industrial park acquisitions are particularly difficult due to low turnover of assets there. The 5-year non-recourse loan was funded by a regional bank headquartered in the southern US and features 24 months of interest-only payments, a 24-month extension option, and no prepayment penalty. Bob Strom, Chairman of CIP Real Estate, commented, “We chose to trust Talonvest again because their team delivers great results and their extensive capital markets knowledge is invaluable.” Tom Sherlock, Erich Pryor, Mason Brusseau, and Thalia Tovar were the Talonvest team members responsible for this assignment.
With the continued growth and expansion in commercial business, Talonvest is also pleased to announce the recent promotion of David DiRienzo to Director – Business Development. His new responsibilities include sourcing clients, developing new business opportunities for the firm, and assisting with strategic initiatives with a focus on industrial, multifamily, and office opportunities. Mr. DiRienzo’s commercial real estate experience includes over $1.3 billion of closed financing transactions and over $250 million of asset acquisitions during his six years of principal experience at a private equity real estate firm. Outside of Talonvest, David is actively involved in the real estate industry as a member of the 2021-2022 Young Professionals Group (YPG), as well as an active member of NAIOP, ULI, and NMHC. “David’s career progression with Talonvest has been outstanding. We’re excited to see him grow our client relationships and commercial business further,” shared Tom Sherlock, Co-Founding Principal of Talonvest Capital.
About Talonvest Capital, Inc.
Talonvest Capital is a boutique real estate firm that provides advisory services to self-storage and commercial real estate investors, owners, and developers throughout the United States. The principals of the firm have over 80 years of combined experience structuring loans and equity investments for self-storage, office, industrial, retail, and apartment properties.
Photos accompanying this announcement are available at: