BWE, a national commercial and multifamily mortgage banking company, secured $75,400,000 in financing for seven multifamily properties, totaling 582 units, across Contra Costa, Santa Clara and Los Angeles counties. SVP Max Sauerman in BWE’s Los Angeles office originated the financing from life company lenders on behalf of a multi-generational family office based in Los Angeles.

The permanent, fixed-rate loans, which vary in term from five to 10 years, are all non-recourse. Some limit carve-out obligations to the borrowing entity, have varying levels of prepayment flexibility and are full-term interest-only.

The properties in the portfolio are mostly stable, core assets with an average occupancy of 95%. They include the following:

• Low-Rise Apartments in Martinez: $9,150,000 loan, five-year term, 98 units.

• Garden-style apartments in Pleasant Hills: $13,300,000 loan, 10-year term, 101 units.

• Garden-style apartments in Canoga Park: $6,750,000 loan, five-year term, 48 units.

• Low-rise apartments in Reseda: $11,200,000 loan, five-year term, 100 units.

• Five-story apartments in Hollywood: $13,500,000 loan, five-year term, 76 units.

• Low-rise apartments in Santa Clara: $15,000,000 loan, 10-year term, 111 units.

• Garden-style apartments in Covina: $6,500,000 loan, five-year term, 48 units.

Today is the day! Join us this afternoon in Los Angeles at Connect Retail West to learn from and connect with leaders and experts from ICSC, Caruso, Anderson Real Estate, Primestor, and more! Don’t miss out on the most anticipated event of the year that brings together the most active investors, owners, developers, forecasters, managers, brokers, lenders, and others in retail CRE. Register online or onsite, and we’ll see you today at the Luxe Sunset Blvd Hotel!