LOS ANGELES — Bellwether Enterprise Real Estate Capital (BWE) has closed a $77 million nonrecourse construction loan for a flex office campus in northern Los Angeles.
The borrower plans to develop a 204,600-square-foot building with 35-foot clear heights, specialized office build-out and onsite trailer storage space. Additionally, a new parking structure will be constructed on the site.
Tom Kenny, Josh Boehling and Alex Gregoire of BWE’s Irvine, Calif., office originated the financing on behalf of the borrower. The financing was arranged with a bank lender for an initial three-year term, with an optional extension.