BWE, a leading national commercial and multifamily mortgage banking company, has successfully secured a $190 million refinancing deal for a portfolio of three warehouse properties located in Ontario. The 7.5-year fixed-rate loan was originated by SVP Max Sauerman, assistant VP Tyler Shebeck, and transaction manager Erin Briggs from BWE’s Los Angeles office. The borrower is an entity affiliated with DART and Dedeaux Properties – one of the most active industrial developers and investors in California.
The financing was arranged through New York Life Real Estate Investors with full term interest-only payments and prepayment flexibility included in the fixed-rate loan terms. According to Sauerman, despite challenges in today’s lending market, BWE utilized their expertise on the strong fundamentals of industrial real estate in the Inland Empire submarket to structure a creative loan that allowed for lower costs while also providing growth capital for the Dedeaux Family.
