Columbus, Ohio — Ohio-based BWE has arranged loans totaling $40.2 million for four properties located in California. The deals included a $12.3 million bridge loan for the acquisition and redevelopment of a retail property located in Rancho Palos Verdes. The property, which was 67 percent preleased at the time of financing, is anchored by O’Reilly Auto Parts. Other tenants include Habit Burger, Mattress Firm, Urbane Café and California Fish Grill. Mike Guterman of BWE secured the financing through Calmwater Capital on behalf of the borrower, West Hive Capital.
BWE also secured a $7.7 million loan for the permanent financing of a mixed-use property in Santa Monica through a life insurance company. Max Sauerman of BWE arranged the financing on behalf of the borrower. The property, which features retail and office space, was fully leased to seven tenants at the time of financing.
In Fresno, Tom Kenny and Josh Boehling of BWE arranged an $11.2 million loan for the financing of a retail center. The 155,569-square-foot property was 91 percent leased at the time of financing, with tenants including dd’s Discount, Raising Cane’s, O’Reilly Auto Parts and Five Below. A life insurance company provided the financing.
The loans also included $9 million in financing for a 52,084-square-foot retail center in Torrance. Tom Turnage of BWE secured the financing through a life insurance company. A grocery store anchors the property, which was 90 percent leased to 13 tenants at the time of financing.