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Bellwether Closes $121M in Loans for Industrial Portfolio, Retail Property
Bellwether Enterprise Real Estate Capital LLC closed $121 million in loans for two deals. One involved a multi-state industrial portfolio with properties in California and Pennsylvania, while the other was for a retail shopping center in Las Vegas.
The deals include:
An $85 million permanent loan for five warehouse buildings totaling 1,151,000 square feet. Three of the buildings are located in Los Angeles County, one in SoCal’s Inland Empire, and one in Central Pennsylvania’s Lehigh Valley. Each building is leased to a single tenant, and features concrete tilt-up construction with minimal office build-out and clear heights ranging from 24 to 36 feet. Bellwether Enterprise’s Shelley Magoffin and Max Sauerman arranged the loan with a correspondent life insurance company and Thrivent Financial.
A $36-million permanent loan for Desert Marketplace, a roughly 200,000-square-foot retail shopping center in Las Vegas. Magoffin and Sauerman arranged the loan on behalf of the borrower, Durango Warm Springs III. The lender was Grass River Real Estate Credit Partners REIT.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




