Talonvest Capital, Inc. and CIP Real Estate are excited to announce another successful loan closing. The latest assignment was for a bridge loan to finance the value-add acquisition of Brook Hollow Center, a 252,698 square foot, five-building, multi-tenant, business park in Norcross, GA. The property has extensive frontage on the I-85 Freeway and is situated 25 minutes north of Downtown Atlanta and 30 minutes from Hartsfield-Jackson Atlanta International Airport.

CIP’s value-add business plan includes increasing rents to current market levels and completing capital improvements consisting of exterior cosmetic upgrades, roof and HVAC replacements, and vacant unit renovations. The non-recourse, 5-year fixed-rate bridge loan with future advances for the capital improvement plan was funded by a California community bank and featured a rate lock at application, 36 months of interest-only payments, several extension options, and prepayment flexibility. Bob Strom, Chairman of CIP Real Estate, commented, “The Talonvest team has earned our trust over years of delivering results. Once again, they did their usual stellar job!”

Built in phases from 1979 - 1985, the Brook Hollow Center was designed to offer functionality and accessibility for industrial and flex tenants. The property is in one of the most sought-after industrial markets in Atlanta due to strong demographics and a well-educated work force, along with immediate access to I-85. The Talonvest team involved in this transaction included Tom Sherlock, Erich Pryor, and Lauren Maehler.