BWE Arranges $108M Refinancing for Apartment Portfolio in California
LOS ANGELES, BEVERLY HILLS AND LONG BEACH, CALIF. — Bellwether Enterprise Real Estate Capital (BWE) has arranged $108 million in refinancing for nine multifamily properties totaling 400 units in California.
Jason Krupoff of BWE’s Irvine office originated the loan for the borrower, Redwood Urban. The properties were refinanced with a Fannie Mae credit facility.
The properties include:
- 1820 Whitney Ave., 1837 Whitley Ave., 1912 Whitley Ave., 1823 Grace Ave., 6600 Yucca St. and 6651 Franklin Ave., totaling 267 units in Los Angeles’ Hollywood neighborhood
- 9152 Alden Way and 8600 Burton Way, totaling 29 units in Beverly Hills
- 104 units at 210 Third Lofts at 210 Third Ave. and 225 Long Beach Blvd. in Long Beach
The Hollywood properties are within walking distance to a variety of amenities and opportunities. The Beverly Hill properties offer in-unit laundry, marble countertops and garage parking. The Long Beach community features private balconies, in-unit laundry, updated appliances, gas stoves and 15,000 square feet of ground-floor retail space.