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