May 7, 2020
Bascom Arizona Ventures, LLC, with financing negotiated by Talonvest Capital, Inc., recently purchased a high quality, luxury multifamily community located at 202 South Hardy Dr. in downtown Tempe. The property consists of 37 garden-style units situated on a 1.78-acre site.
Talonvest negotiated an $8,880,000 acquisition bridge loan for the property. The non-recourse, four-year, full-term interest-only loan was funded by a large national bank holding company. The bridge loan was priced in the Libor + 100s and included future funding for capital improvements.
Bascom Arizona Ventures, LLC’s Glenn Daiutolo says, “Our first experience working with Talonvest exceeded our expectations. The team’s collective knowledge and experience was invaluable and resulted in an excellent loan for us.”
The Talonvest team members responsible for the assignments included Erich Pryor, Kim Bishop, Jim Davies, Eric Snyder, Tom Sherlock, David DiRienzo, Mason Brusseau, and Lauren Maehler.
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