Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, announced today the closing of a $77,000,000 non-recourse construction loan for a state-of-the-art, flex office campus located in northern Los Angeles.
Tom Kenny, executive vice president, Josh Boehling, senior vice president, and Alex Gregoire, assistant vice president, all in BWE’s Irvine, CA office, originated the loan on behalf of the borrower.
“The strongest office spaces draw talent from a wide area, with innovative design and convenient transportation access,” said Kenny. “With a specialized, competitive design and strong connections to the greater Los Angeles area, BWE is excited for the unique opportunity this development presents to our client.”
Improvements will include the construction of a 204,600 square foot building, which will have a 35-foot clear height, specialized office build-out and onsite trailer storage space. A new parking structure will also be built, ensuring the project remains well-parked. The campus also comes pre-leased and is easily accessible to central Los Angeles and the Greater San Fernando Valley via interstate highways and local freeways.
The financing was arranged with a bank lender for an initial three-year term, with an optional extension.
BWE provides flexible financing solutions for clients covering the entire spectrum of commercial and multifamily real estate. For more information on BWE’s services, visit us at: https://www.bwe.com/.