BWE, a leading national commercial and multifamily mortgage banking firm, has successfully secured $190 million in refinancing 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 loan was provided through New York Life Real Estate Investors on behalf of the borrower – a Dedeaux-controlled entity affiliated with DART and Dedeaux Properties.
The borrower is one of California’s most active industrial developers and investors, making this deal an important milestone for both parties involved. Despite the challenging lending environment at present, BWE utilized their expertise in the Inland Empire submarket to structure a creative loan that offers full term interest-only payments as well as prepayment flexibility.
According to Sauerman: “BWE leveraged our deep understanding of the strong fundamentals driving industrial real estate demand in this region to secure an attractive financing solution for our client.” This successful refinancing will provide growth capital for the Dedeaux Family while also offering them lower costs through fixed-rate interest-only terms.
