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Industrial stays hot, as evidenced by a recent multi-state portfolio.[/caption]SAN FRANCISCO—Bellwether Enterprise Real Estate Capital LLC closed a $164 million permanent loan secured by 16 industrial and warehouse properties across Washington, Nevada, California and Arizona. The transaction encompasses seven markets.The 16 properties that comprise the industrial portfolio collectively total nearly 3 million square feet. Three buildings are located outside Seattle, two in Las Vegas, two in Northern California, three in Central California, two in the Inland Empire, three in Orange County and one in Phoenix.Shelley Magoffin, executive vice president of Bellwether Enterprise in the Los Angeles office, and Max Sauerman, vice president of Bellwether Enterprise in the Los Angeles office, arranged the loan with one of Bellwether's long-time correspondents, Great West Life and Annuity Insurance Company as the lender. The borrower is a private real estate investment trust based in Southern California.The loan included a 12-year loan term with interest-only payments for the first six years, followed by a 30-year amortization schedule. Bellwether Enterprise had the exclusive assignment to arrange the financing and the borrower elected to proceed with the loan from Great West Life because it offered the best combination of terms.Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc.
Industrial stays hot, as evidenced by a recent multi-state portfolio.[/caption]SAN FRANCISCO—Bellwether Enterprise Real Estate Capital LLC closed a $164 million permanent loan secured by 16 industrial and warehouse properties across Washington, Nevada, California and Arizona. The transaction encompasses seven markets.The 16 properties that comprise the industrial portfolio collectively total nearly 3 million square feet. Three buildings are located outside Seattle, two in Las Vegas, two in Northern California, three in Central California, two in the Inland Empire, three in Orange County and one in Phoenix.Shelley Magoffin, executive vice president of Bellwether Enterprise in the Los Angeles office, and Max Sauerman, vice president of Bellwether Enterprise in the Los Angeles office, arranged the loan with one of Bellwether's long-time correspondents, Great West Life and Annuity Insurance Company as the lender. The borrower is a private real estate investment trust based in Southern California.The loan included a 12-year loan term with interest-only payments for the first six years, followed by a 30-year amortization schedule. Bellwether Enterprise had the exclusive assignment to arrange the financing and the borrower elected to proceed with the loan from Great West Life because it offered the best combination of terms.Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc.NOT FOR REPRINT
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
