Contact: Maya Kriet, Group Gordon
212-784-5710
mkriet@groupgordon.com
Bellwether Enterprise Closes $95.3 Million in Loans in February for a Wide Range of Property Types Throughout the United States
Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (Enterprise), today announced that it closed 18 loans totaling $95.3 million in transactions during February 2016, and spotlight deals include the following:
Bothell 405 Business Park, a $13,100,000 loan consisting of a four building, 153,190 square foot industrial park located in Bothell, Washington. The property, which was built in 1988, includes tenants representing a mix of regional and local firms operating in a variety of industries. Laurie Morfin, senior vice president, and Scott Hay, vice president in Bellwether Enterprise’s Irvine office, refinanced Bothell 405 Business Park through a fixed rate five-year loan with five years of interest only through Allstate.
Hampton Inn Eau Claire, an $8,100,000 refinance loan for a 106-unit hotel in Eau Claire, Wisconsin. Clark Jenkins, vice president in Bellwether Enterprise’s Raleigh office, arranged the loan through Jeffries LoanCore to OBOS ECH, LLC.
Casino Lane, a $7,680,000 acquisition loan for a 96-unit affordable multifamily development in Everett, Washington. Suzie Cope, senior vice president in Bellwether Enterprise’s Denver office, arranged the acquisition loan through a partnership with Fannie Mae and Enterprise Multifamily Opportunity Fund to Casino-Westmont Affordable Housing Partners, LLP.
Grove Park Plaza, a $2,350,000 acquisition loan for a 30,600 square foot retail strip center located in Marietta, Georgia featuring two buildings on 5.3 acres. Kelly Martone, vice president in Bellwether Enterprise’s Atlanta office, arranged the loan through StanCorp to Petinos LLC.
“The diversity of these four transactions showcases Bellwether Enterprise’s ability to provide attractive financing solutions to a range of borrowers,” said Ned Huffman, president of Bellwether Enterprise. “We are thrilled that we are able to work with our borrowers to help them create these strong developments and look forward to continuing to expand our reach across the country.”
Bellwether Enterprise provides flexible financing solutions for clients covering the entire spectrum of commercial and multifamily real estate. For more information on Bellwether Enterprise’s services, visit us at: www.BellwetherEnterprise.com.
