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California  + Orange County  + Senior Housing  | 

Bellwether Arranges $82M Refi for Placentia Seniors MF

Bellwether Enterprise Real Estate Capital LLC closed a $82,487,000 cash-out refinance loan with Freddie Mac. The loan is secured by Emerald Isle, a 422-unit luxury seniors apartment development located at 661 N Rose Dr. in Placentia. Newport Beach-based Mesa Management was the borrower and principal on the loan.

Bellwether Enterprise’s Jason Krupoff originated the 10-year loan that includes five years of interest only at a rate of sub-3%. The loan is underwritten at 60% the loan-to-value ratio and 1.45 times the debt service coverage ratio.

Mesa Management’s Steve Mensinger says, “The transactions were handled in the middle of a pandemic amid credit tightening measures. Jason and the Bellwether Enterprise team exceeded my expectations.”

The property, designed for seniors aged 55 years and older, offers one- and two- bedroom apartments ranging in size from 588 to 1128 square feet. Residents have access to a range of facilities including a fitness center, clubhouse, library, putting green, heated swimming pool and spa, and covered parking.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Mesa Management’s MensingerConnect With Bellwether Enterprise's Krupoff

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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