BWE, a leading commercial real estate finance firm, recently secured $224.7 million in financing for a multifamily portfolio consisting of six properties and 1,192 units located in Orange County. The portfolio’s acquisition was made possible by refinancing five existing properties to secure equity for the purchase of the sixth property – Regency Palms in Huntington Beach.
The loans were originated by BWE’s SVPs Jason Krupoff and Doug Taylor from their Irvine office on behalf of a repeat client who is an experienced investor-operator in Orange County’s multifamily market.
One correspondent life company provided financing for three properties with loan proceeds totaling $90.65 million while Fannie Mae financed the remaining three properties including the acquisition at $134.05 million.
All six loans were non-recourse permanent transactions with fixed rates and terms ranging from five to ten years with 30-year amortization periods; initial interest-only payments are available through agency loans.
This significant transaction highlights BWE’s expertise and strong relationships within the commercial real estate finance industry as they continue to provide tailored solutions for their clients’ needs.
“}]]
