BWE, a national commercial and multifamily mortgage banking company, recently announced the closing of $32.9 million in financing across six industrial properties on behalf of two experienced sponsors, a high-net-worth family office asset manager and a California-based office warehouse and light industrial investor. The transactions include a five-property portfolio totaling over 430,000 square feet in and around Los Angeles, CA, Tempe, AZ and Houston, TX, as well as a 42,000 square-foot, multi-tenant light industrial property in Las Vegas, NV.
Peter Keepper, senior vice president in BWE’s Denver, CO office, originated the loans on behalf of the sponsors. Both sponsors are highly experienced industrial investors with strong track records. Their proven execution of maintaining the properties at high occupancy and growing rents gave lenders confidence to provide competitive, tailored financing solutions. The five-property portfolio was financed through a repeat insurance company relationship that BWE represents as a correspondent originator and servicer. The Las Vegas property was secured by re-engaging an insurance company relationship that was relatively inactive after a merger and was made possible by Keepper’s long-standing relationship with the capital source and borrower’s existing relationship with the lender.
“Both of these transactions are great examples of relationship lending as each lender was willing to think outside the box of their typical lending parameters to accommodate existing borrowers,” said Keepper. “BWE is committed to providing our clients with tailored financing solutions that align with their business plans, regardless of the asset class or geography, and we follow our clients from coast to coast.”