Bellwether Enterprise Provides $37.5M Acquisition Loan for New Apartment Complex in Richmond
RICHMOND, VA. — Bellwether Enterprise Real Estate Capital LLC has provided a $37.5 million Fannie Mae loan to Heritage Income Property LLC for the acquisition of James River at Stony Point, a newly built apartment complex in Richmond. Harry Giallourakis of Bellwether Enterprise’s Cleveland office originated the 12-year, interest-only loan. The borrower purchased James River at Stony Point through a 1031 tax-deferred exchange. Located at 9101 Stony Point Parkway, the 280-unit community includes a fully furnished clubhouse with a heated saltwater pool and sundeck, outdoor grill and fire pit lounge, 24-hour fitness center, dog park and a business center. Individual units feature modern appliances, in-suite washers and dryers and walk-in closets.