ONTARIO, CALIF. — Bellwether Enterprise has closed two loans totaling $75 million that will be used to refinance the 298-unit Vistara Apartments in Ontario. The community is located at 3410 E. 4th St.
Vistara was delivered this past September. Amenities include a clubhouse and leasing office, a 24-hour fitness and yoga center, a resort pool area with spa, three outdoor entertainment areas with televisions and barbeques, 575 parking spots, and a dog wash and grooming area.
Bellwether Enterprise arranged a $59 million permanent loan for a 20-year term with interest-only payments for two years, followed by a 38-year amortization schedule and a fixed interest rate. The $16 million mezzanine loan was arranged for a five-year term with interest-only payments and a fixed interest rate.