Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, announced the closing of eight individual loans totaling $93,073,000 for eight office, medical office and life science buildings in the Washington, DC, metropolitan area.
Steve Shaw, Executive Vice President, Alec Jenkins, Vice President, Chaz Wattles, Transaction Manager and Bill Wrench, Senior Transaction Manager, all from BWE’s Washington, DC, office, arranged the loans from a variety of lenders on behalf of the borrower, Guardian Realty Investors, LLC.
“We partnered closely with Guardian Realty’s professionals to identify the best loan terms for each transaction. In this post-COVID difficult financing environment, the strength of sponsorship continues to be important,” said Shaw. “We look forward to continuing to work with long-time as well as new clients to secure financing for projects across the Mid-Atlantic.”
The eight refinance transactions, which closed in late 2022, are:
· Fairfax, VA Medical Office, a $15,500,000 permanent loan to finance a medical office building.
· Rockville, MD Medical Office, a $14,235,000 permanent loan to finance a medical office building.
· Silver Spring, MD Medical Office, a $16,400,000 permanent loan to finance a medical office building.
· Gaithersburg, MD Medical Office, a $6,600,000 permanent loan to finance an office with a medical/urgent care center.
· Gaithersburg, MD Office, a $4,900,000 permanent loan to finance an office building.
· Gaithersburg, MD Office, a $3,800,000 permanent loan to finance an office building.
· Silver Spring, Office, a $5,500,000 permanent loan to finance a mixed office/medical building.
· Germantown, MD Life Sciences Center, a $26,138,000 bridge-to-permanent loan to finance the conversion of an existing office building into a Class A life science building.
“BWE’s guidance and professionalism enabled Guardian to achieve our targeted results,” said Tony LaBarbera, President & CEO of Guardian Realty Investors, LLC. “Our joint efforts provided visibility and clarity in the uncertain fog of increasing interest rates and the tightening of the Fed. BWE’s “roll-up-your-sleeves efforts” to understand the real estate and markets was instrumental to coordinating and closing the multiple options available. We would also like to thank our lending partners at Five-Star Bank, MainStreet Bank, and Summit Community Bank for their excellent work on these transactions.”
BWE provides flexible financing solutions for clients covering the entire spectrum of commercial and multifamily real estate. For more information on BWE’s services, visit us at: https://www.bwe.com/.
BWE is a national, full-service commercial and multifamily mortgage banking company. Partnering with Enterprise Community Partners, Inc., BWE has production offices across the country and an integrated servicing platform based in Cleveland. With local market expertise, national lending relationships and financing structure experience, we provide clients with competitive, creative solutions for their financing needs. BWE provides loans for a range of institutional investors including life insurance companies, pension funds, commercial banks and CMBS lenders and is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, Freddie Mac Optigo™ seller/servicer for Conventional and Targeted Affordable Housing Loans, Federal Housing Administration (FHA) approved Multifamily Accelerated Processing (MAP) lender and U.S. Department of Agriculture (USDA) Section 538 Rural Development lender.
Guardian Realty Investors has been successfully operating in the Washington, DC Metropolitan Area for over 50 years. Guardian is a fully integrated real estate investment company that develops, redevelops, converts, acquires, manages, operates, and owns a portfolio A-/B+ commercial office properties. Known for its in-house management expertise and responsiveness to tenants’ needs, the firm’s success is based on its integrated companies which provide on-site management, comprehensive cost controls, tenant servicing, and tenant retention. With local market and submarket expertise, it provides investors and tenants above market services.
