Bellwether Enterprise Real Estate Capital LLC recently closed a refinance transaction for a 10-property portfolio of assets in Ohio and Texas.
By crafting a full-term, interest-only loan utilizing an index lock, Bellwether Enterprise was able to secure the borrower, Fath Properties, a rate 75 base points lower than current rates.
“We conducted an in-depth assessment of the portfolio’s make-up to develop a customized arrangement for Fath Properties that minimizes cost and allows for preserved affordability,” said Sara Behrman, the loan’s originator and senior vice president of Bellwether Enterprise’s Cincinnati office.
The entire portfolio consists of more than 3,300 units across 10 multifamily properties located between the two states. Six of the properties are located in the Greater Cincinnati/Dayton marketplace and contain 2,065 units. The remaining four properties are located in Texas and consist of 1,273 additional units.