BWE, a national commercial and multifamily mortgage banking company, announced today that it has secured a combined $86,200,000 in financing for seven commercial and multifamily properties in Orange, Riverside, and Los Angeles counties in California.
The BWE Los Angeles office originated the financing from life company lenders, a bank, and a debt fund on behalf of the borrowers.
“The BWE Los Angeles team is always committed to finding ways to help borrowers secure financing for properties regardless of location, leverage, leasing, quality or property type,” said senior vice president Max Sauerman. “BWE continues to leverage its comprehensive suite of capital solutions to ensure optimal financing terms for properties across every asset class.”
The properties, spanning a wide array of asset types, include:
- Industrial Truck Terminal (Riverside County, CA), a $36,100,000 construction take-out floating rate bridge loan from a debt fund with a two-year term and no prepay penalty or minimum interest after nine months, to finance a vacant, specialty use industrial property. Senior vice president Jake Roberts originated the loan.
- Two Single-Tenant Industrial Buildings (Los Angeles County, CA), a $17,500,000 permanent fixed-rate loan from a life insurance company with a ten-year term and 30-year amortization to finance two single-tenant industrial buildings. Senior vice president Perry Colligan originated the loan.
- Suburban Creative Office (Los Angeles, CA), a $10,400,000 non-recourse, permanent fixed-rate loan with a seven-year term, 25-year amortization, 60% LTV, and prepayment flexibility to finance a sleek, suburban creative office property. Senior vice president Max Sauerman originated the loan.
- Specialty Retail (South Bay, Los Angeles, CA), a $10,000,000 permanent fixed-rate loan with a four-year term and 30-year amortization from a bank lender featuring very aggressive interest rate spreads to finance a modern, specialty use retail property 100% leased to a gym. Jake Roberts originated the loan.
- Single-Tenant Flex Building (Orange County, CA), a $9,000,000 non-recourse, permanent fixed-rate loan from a life insurance company with a fifteen-year term, 25-year amortization, prepayment flexibility and secondary financing permitted for a single-tenant flex property. Max Sauerman originated the loan.
- Multifamily Development (Los Angeles, CA), a $3,200,000 non-recourse, permanent fixed-rate loan from a life insurance company with a ten-year term and interest-only payments, prepayment flexibility and a low loan-to-value (LTV) ratio for a legacy multifamily property. Perry Colligan originated the loan.