April 12, 2019 Comments Off on Bellwether Closes Nearly $50M in Loans for Diverse Mix of Assets Views: 633 Midwest, National News, Ohio

Bellwether Closes Nearly $50M in Loans for Diverse Mix of Assets

Cleveland-based Bellwether Enterprise Real Estate Capital LLC closed five loans totaling $48 million for retail, office, and mixed-use residential properties in Louisiana, Tennessee, North Carolina, and South Carolina. The six properties are a mix of new construction and redevelopment work.

Bellwether Enterprise’s Ned Huffman says, “Bellwether Enterprise’s strong presence across the Southeast allows us to execute deals across a wide range of property types and locations that deliver what our clients need.”

The deals include:
– Ochsner Health Clinic in New Orleans, a $21 million permanent loan for a new medical clinic and office building located at 1532 Robert E. Lee Blvd.
– University Center and The Shoppes at Hermitage Hills in Johnson City and Hermitage, TN, a $9.1 million acquisition loan for a two-property retail portfolio.
– Tryon Medical Office in Charlotte (pictured), an $8.4 million permanent loan for a brand new 29,070-square-foot MOB located at 16817 Marvin Rd.
– Walgreens North Charleston in North Charleston, SC, a $3.7 million permanent loan for a 14,550-square-foot Walgreens retail location at 7501 Rivers Ave.
– Spencer’s Mill in Mt. Airy, NC, a $5.8. million deal to redevelop an abandoned textile mill located in Downtown Mt. Airy at 329 Willow St. into 65 new apartments.

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