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BWE Closes $111M in Multifamily, Office Loans for Central FL Projects
Bellwether Enterprise Real Estate Capital, LLC, has closed four loans totaling $111 million to finance two multifamily properties and one office portfolio in Central FL. BWE SVP Bobby Werhane originated the loans.
- Kimaya Residential, Ocoee: two loans totaling $57.9 million for the financing of an BTR townhouse community near Orlando. The property’s two-part financing solution includes a non-recourse construction loan of $44.3 million with a floating interest rate and a 65% loan-to-cost ratio. The second loan is an 85% last dollar exposure preferred equity construction loan of $13.6.
- Savannah Place Apartments, Gainesville: a $43.8 million loan to finance the acquisition of a two-property BTR multifamily portfolio totaling 344 townhouse units. The loan has a three-year, non-recourse floating interest and an 83% loan-to-cost ratio.
- Sabal Park Portfolio, Tampa: a $9.3 million permanent placement loan to refinance a portfolio of two office buildings. The loan has a 10-year, non-recourse fixed interest rate of less than 4%, a 30-year amortization and a 70% loan-to-value cash-out recapitalization.
- ◦Financing
