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Bellwether Closes $127M Refi for Newly-Built Burbank MF

Bellwether Enterprise Real Estate Capital LLC closed a $126.5-million loan to refinance Talaria at Burbank, a recently-completed mixed-use apartment and retail property at 3401-3425 W. Olive Avenue in Burbank, CA. The first LEED-certified residential building in Burbank, it was completed in February 2019 and contains 241 luxury apartments spread across four stories, plus a Whole Foods on the ground floor.

Bellwether Enterprise’s Tom Kenny arranged the loan with PGIM, on behalf of Cusumano Real Estate Group. The structure enabled the borrower to lock in a long-term fixed rate, non-recourse loan prior to lease-up, and included recouping a significant amount of equity at closing. The 10-year loan included seven years of interest-only payments.

Amenities include a resort-style pool, Jacuzzi, common space, fitness club, screening room, rooftop bar and lounge, a business center, 24-hour concierge services, electronic vehicle charging stations, and a bicycle repair shop.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
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