BWE Secures $21.8M Bridge Loan For Orchard Park Apartments In Salem, Oregon

Orchard Park Apartments, a 224-unit affordable housing complex located at 4100 Kacey Circle Northeast in Salem, Oregon, has been acquired and preserved by Bellwether Enterprise. The property, valued at $21.8 million, has been secured through a bridge loan facilitated by Jim Gillespie and Ilya Weinstein. This multi-family asset is set to provide affordable housing options in the Salem market.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $21,800,000
• Loan Type: Bridge
• Lender: Jim Gillespie & Ilya Weinstein - Bellwether Enterprise

Bellwether Enterprise, a national commercial and multifamily mortgage banking company, played a crucial role in securing the financing for Orchard Park Apartments. This transaction will ensure the preservation and availability of affordable housing units in Salem, Oregon. Through their expertise in the mortgage banking industry, Gillespie and Weinstein have successfully facilitated the acquisition of this affordable housing complex, contributing to the community's housing needs.