Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$164M Loan for Four-State, 3M-SF Industrial Portfolio
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 properties that comprise the portfolio collectively total nearly three million square feet of space.
The assets are spread over four states, including: three buildings located near 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.
Bellwether Enterprise’s Shelley Magoffin and Max Sauerman arranged the loan with one of their long-time correspondents, Great West Life and Annuity Insurance Company, as the lender on behalf of an unnamed REIT borrower. The loan included a 12-year loan term with interest-only payments for the first six years, followed by a 30-year amortization schedule.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing