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California  + Los Angeles  + Retail  | 

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.

For comments, questions or concerns, please contact Dennis Kaiser

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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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