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Bellwether Enterprise Secures $70.9M Refinance Loan For Multifamily Properties In Charlotte & Marietta

Property Image
FINANCED
$70,900,000
Thomas Wiedeman
Brad Walker
+ 1

North Carolina

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MultiFamily
Financed 06/05/2024
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FINANCED

Bellwether Enterprise Secures $70.9M Refinance Loan For Multifamily Properties In Charlotte & Marietta

6026 Station Crossing Avenue & 1136 West Commons Lane

See Similar Deals
MultiFamily
Financed 06/05/2024
Thomas Wiedeman
Brad Walker
+ 1
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

Featuring a multifamily asset, the transaction involves two properties located at 6026 Station Crossing Avenue in Charlotte, NC, and 1136 West Commons Lane in Marietta, GA. The loan amount for this refinancing deal is $70,900,000 for a total of 584 units between the two locations.

Summary of transaction details:

BWE's Atlanta office successfully secured two non-recourse loans totaling $70.9 million to refinance two distinct developments. The first loan of $35.9 million was acquired for the 304-unit Accent Southrail in Charlotte, NC, while the second loan of $35 million was obtained for the 280-unit Sedgefield Apartments in Marietta, Georgia.

Players

Alan Tapie
3 deals$155.7M volume(770) 402-5392
BROKER

Thomas Wiedeman
Bellwether Enterprise (BWE)
2 deals$147.7M volume
BROKER

Brad Walker
Bellwether Enterprise (BWE)
2 deals$147.7M volume(678) 710-9154
BROKER

Hanley Long
Bellwether Enterprise (BWE)
2 deals$147.7M volume
BROKER

Details

FINANCED
IMAGE: 06/05/2024 ADDRESS: 6026 Station Crossing Avenue & 1136 West Commons Lane MARKET: Charlotte, NC & Marietta, GA ASSET TYPE: Multifamily ~ UNITS: 584 BROKERS: Alan Tapie, Brad Walker, Hanley Long & Thomas Wiedeman - Bellwether Enterprise (BWE) LOAN AMOUNT: $70,900,000 LOAN TYPE: Refinance NOTE: BWE's Atlanta office secured two non-recourse loans totaling $70.9 million to refinance Accent Southrail, a 304-unit development in Charlotte, NC, and Sedgefield Apartments, a 280-unit complex in Marietta, Georgia, with loans of $35.9 million and $35 million, respectively.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,900,000.00

Monthly NOI$472,666.67
Monthly Debt Service$448,136.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00