BWE has secured two loans totaling $70.9 million to refinance Accent Southrail, a 304-unit, mid-rise multifamily development in Charlotte, North Carolina and Sedgefield Apartments, a 280-unit multifamily development in Marietta, Georgia.
BWE’s Atlanta office secured the non-recourse loans for Accent Southrail and Sedgefield Apartments, which totaled $35.9 and $35 million, respectively. Alan Tapie, Thomas Wiedeman, Brad Walker and Hanley Long helped secure the loan.
The $35.9 million Accent Southrail loan features a three-year fixed-rate term and flexible prepayment and was originated from one of BWE’s largest correspondent life company lenders on behalf of Atlanta-based development firm Westplan Investors. The $35,000,000, interest-only Sedgefield Apartments loan was originated through a proprietary BWE bridge loan product on behalf of RPM Living.
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.
