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[IMGCAP(1)]SEATTLE-James Neal and William Pollard have launched a new investment firm, Talon Private Capital. The recently retired head of Metzler North America and the co-founder of Pacific Real Estate Partners say the company will organize private capital for commercial real estate acquisitions nationwide.

Pollard was not immediately available Tuesday for comment but said in a prepared statement that most investors are busy dealing with the challenges in their existing portfolios, timid to re-invest until the “bottom” of the real estate cycle is well documented. Talon intends seize the moment by acquiring assets while competition is moderate and capital is scarce.

[IMGCAP(2)]Talon plans to invest in commercial real estate assets and debt instruments that provide a balance of cash flow and appreciation. Pollard says he and his partner’s relationships with institutional owners and lenders and local market intelligence networks afford it early access to these high-quality, yet distressed, assets; its sweet spot for deal values is reportedly $20 million to $60 million.

“The hallmark of this cycle is owner and capital distress; most buildings are performing relatively well. Unlike previous market downturns, this is not an over developed market problem,” he says. “As a ‘first mover,’ we plan to begin investing when premier assets become available at historically low values and sustainable yields.

Metzler North America Corp. is an institutional real estate advisory arm of Bankhaus Metzler, the oldest and largest private bank in Europe. Neal formed Metzler North America in 1988. Pacific Real Estate Partners is a commercial real estate brokerage firm co-founded by Pollard 16 years ago. The firm has done $4 billion of transactions in the last five years.

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