Long Beach Community Scores $32M Financing
Bellwether Enterprise has arranged Fannie Mae Structured ARM loan fort Lofts at Promenade Apartments, a community in downtown Long Beach, Calif.
By Evelyn Jozsa
Bellwether Enterprise has arranged $32 million in financing for Lofts at Promenade Apartments, a 104-unit community in downtown Long Beach, Calif. The 10-year term Fannie Mae Structured ARM loan will help bring capital improvements to the property.
Located at 225 Long Beach Blvd., the property is a transit-oriented development along the recently revitalized Promenade shopping center. Built in 2009, the asset offers 14,000 square feet of ground floor retail space leased to four restaurant tenants. The community offers a mix of one- and two-bedroom units, featuring 10-feet high loft-style ceilings and quality finishes. Community amenities include:
- fitness center
- barbecue area
“By delivering customized, competitive, and flexible financing solutions, Bellwether Enterprise has played an important role in maintaining and enhancing this highly-desirable property and preserving its unique offerings to downtown Long Beach. We look forward to building on our growing portfolio of work across the West Coast,” said Ned Huffman, president of Bellwether Enterprise, in prepared statements.
Image courtesy of Google street view