Bellwether Enterprise Provides $224.7M Financing For 1,192-Unit Multifamily Portfolio
California
See Similar DealsBellwether Enterprise Provides $224.7M Financing For 1,192-Unit Multifamily Portfolio
Summary
The multifamily portfolio in Orange County and Huntington Beach, consisting of six properties totaling 1,192 units, secured $224.7 million in financing through a refinance deal. This loan facilitated the acquisition of Regency Palms in Huntington Beach using equity extracted from refinancing five other properties. The loans were originated by Bellwether Enterprise's Irvine office for a repeat client and included non-recourse, fixed-rate transactions with five- to ten-year terms and thirty-year amortization periods.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $224,699,000
- Address: Orange County & Huntington Beach
- Market: Orange County
- Loan Type: Refinance
- Loan Terms: Five- and ten-year terms with thirty-year amortization periods, with initial interest-only payments
- Lender: Jason Krupoff & Doug Taylor - Bellwether Enterprise (BWE)
The financing for the multifamily portfolio involved key individuals like Jason Krupoff and Doug Taylor from Bellwether Enterprise, based in Irvine. The deal reflected the strong multifamily market fundamentals in Orange County, with limited new supply and steady rent growth, showcasing the expertise and relationship between the lenders and the clients in executing such a substantial transaction.
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