Talonvest Delivers $31 Million of Bridge Financing for Three Apartment Properties

IRVINE, Calif., Jan. 13, 2020 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique mortgage brokerage firm, negotiated individual refinance loans on behalf of repeat client, The Bascom Group, LLC, for three multi-family communities, two in California and one in Nevada. A commercial bank in Texas funded a $16.5M loan secured by Casanova Grove Apartments, a 76-unit apartment complex in Monterey, California and a $4.8M loan for Michigan Heights Apartments, a 28-unit apartment complex located in Los Angeles, California. Both loans have four-year terms with 36 months of interest only payments and multiple extension options. Loan proceeds will be used for the addition of new units and general property renovations such as new flooring, appliance upgrades, miscellaneous interior repairs, etc.

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