Multifamily Finance Specialist BWE Closes $90M SoCal Deal

By Ted Jackson

Bellwether Enterprise Real Estate Capital LLC (BWE) has closed a $90-million permanent placement loan on a big Southern California multifamily property, 1133 Hope, a luxury apartment complex in downtown Los Angeles near the Crypto.com Arena.

The 208-unit, 28-story property was completed in 2020 and offers a variety of floorplans, including studio, one-, two- and four-bedroom units. 1133 Hope is convenient to restaurants and entertainment and situated within two blocks of the L.A. Live entertainment complex as well as the Los Angeles Convention Center.

“Our team at BWE was excited to help the borrower secure financing for this truly impressive Downtown Los Angeles property,” said BWE SVP Stephen Perricone. “The amenities and location of this property provide an unparalleled experience for those who call 1133 Hope home.”

Perricone and BWE SVP Thomas Mazlo, both in BWE’s Philadelphia office, originated the loan on behalf of the borrower. BWE negotiated with a top tier insurance company to provide the permanent financing, which replaced maturing construction loans.