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WASHINGTON — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged a $35 million loan for the refinancing of a shopping center located in the state of Washington.
Tenants at the property, which was 95 percent leased at the time of sale, include a grocery store anchor and 100,000-square-foot big-box retailer.
Tom Turnage and Joe Galosic Jr. of BWE secured the financing through a life insurance company on behalf of the borrower. The non-recourse loan carries a five-year term with interest-only payments for two years, followed by a 30-year amortization schedule.
Further information on the borrower and property were not disclosed.