REBusinessOnline

Bellwether Arranges $49.3M in Acquisition Financing for Two Multifamily Assets in Austin

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital, the multifamily mortgage banking arm of Enterprise Community Investment Inc., has arranged $49.3 million in acquisition financing for a pair of multifamily assets in Austin. The company arranged a $34.3 million loan for Northwest Hills, a 314-unit community; and a $15 million loan for The Place at Terracina, a 170-unit property. Kevin Bowen of Bellwether placed the loans for the properties, both of which have 51 percent of their units reserved for residents making 80 percent or less of the area median income, through Fannie Mae’s Special Public Purpose program.

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