SALT LAKE CITY, UT – Cottonwood Residential, a leader in multifamily property management and operations, announced the unveiling of its new brand at two recently bought apartment communities.

Modera Prime 235, a luxury community in St. Petersburg, Fla., has been rebranded Cottonwood Bayview. Elan Westside, an upscale community in the West Midtown neighborhood of Atlanta, has been rebranded Cottonwood Westside. The communities represent the start of Cottonwood Residential’s effort to incorporate its new brand into high-profile markets and locations.

“The brand represents the next phase for Cottonwood Residential, in which we are redefining our portfolio to provide the best apartment living experience available in incredible locations where today’s renters want to live,” said Chad Christensen, president of Cottonwood Residential. “The vibrant locations of our communities, the top-of-market amenities and the premier level of service that we will provide our residents will be synonymous with the Cottonwood experience.”

Cottonwood Residential is in the process of transforming its portfolio, reinvesting in well-appointed communities in strategic Class-A locations while also rehabbing existing Class B assets. Communities in the new portfolio and updated existing communities will be rebranded with the Cottonwood name. The company will also implement its upgraded all-in-one property management system, which will simplify the resident user experience and streamline operations.

“Investing in Class-A markets plays to our strengths and our onsite associates, who are some of the most talented, experienced and passionate associates in the industry,” said Glenn Rand, executive vice president for Cottonwood Residential. “Along with our detailed landscaping, elegant apartment interiors and high-end finishes, our associates will be committed to delivering the most sought after apartment living experience in the country.”

Cottonwood Bayview contains 309 apartment homes with a mix of studio, 1- and 2-bedroom homes. The community offers prime views of Tampa Bay, a rooftop terrace, state-of-the-art fitness center, resort-style swimming pool with sundeck, stainless steel appliances and full size in-home washers and dryers.

Cottonwood Westside, a mixed-use community with 197 apartment homes, is situated in a highly desirable walkable neighborhood (85 Walk Score) within steps of some of the city’s finest shopping, dining and entertainment options. Featuring sleek modern architecture, the community includes a salt-water pool with sun shelf, fitness center, high-tech gaming lounge and a pet park.

Cottonwood Residential is a fully integrated real estate investment company that has focused solely on the multifamily sector since 2004. The firm owns and/or manages over 18,000 multifamily units in 15 states.

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IRVINE, CA – Talonvest Capital announced the successful funding of two value add bridge loans totaling $20,000,000 for The Bascom Group. Talonvest sourced and successfully negotiated with a regional bank for an $11,500,000 loan for the acquisition of a Harvard Villas, a 64-unit property in Torrance, California, and an $8,500,000 loan for the buy of Pebble Cove Apartments, a 90-unit apartment community in Las Vegas, Nevada.

The $8.5M loan for the Las Vegas property featured a three-year term with interest-only payments for the first 30 months, one three-year extension option and no prepayment penalty. The $11.5M loan for the Torrance property featured a four-year term with interest-only payments for the first 30 months, one one-year extension option and no prepayment penalty.

Pebble Cove Apartments is a garden style multifamily community consisting of eight buildings situated on a 4.13-acre site ideally located only 2.9 miles from the Las Vegas Strip and 4.5 miles from downtown Las Vegas. Bascom plans to implement a substantial renovation program including interior and exterior upgrades, as well as amenities.

Harvard Villa Apartments is situated on a 1.66-acre site centrally located in the South Bay region of Los Angeles. Bascom bought Harvard Villa in an off-market transaction from a private owner and plans to implement a third-party management and construction team to reposition and rebrand the property.

Jerry Fink, Managing Partner of Bascom, commented, “Talonvest took the time to know our needs and then tailored a strategy to fit those needs. Although both properties had underwriting challenges, they made a competitive environment for the debt financing and greatly exceeded our expectations.” Talonvest Principal Tom Sherlock added, “We’re pleased to have established a new lending relationship for Bascom and are excited to continue providing valuable insights on the capital markets as we grow our relationship.” The Talonvest team handling the transaction included Erich Pryor, Eric Snyder, and Tom Sherlock.

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