BWE Arranges $260M Loan for Refinancing of National Multifamily Portfolio

DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.