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Bellwether Enterprise Arranges $185M Refinancing for Multifamily Portfolio in California, Maryland

Avalon Russet is located in Laurel, Md., about 20 miles north of Washington, D.C. (Photo courtesy of avaloncommunities.com)

LOS ANGELES, WOODLAND HILLS, CALIF. AND LAUREL, MD. — Bellwether Enterprise Real Estate Capital LLC has arranged three loans totaling $185.1 million for the refinancing of a multifamily portfolio located in California and Maryland.

The portfolio consists of three properties totaling 1,384 units. The assets include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles.

Kip Kimble of Bellwether Enterprise arranged the 10-year loans for the borrower, AvalonBay Communities (NYSE: AVB). New York Life was the lender.

AvalonBay Communities is a real estate investment trust that owns and manages apartment properties concentrated in the Northeast and Western regions.

Bellwether Enterprise is a subsidiary of Enterprise Community Investment.

— Kristin Hiller

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