Dealmaker: Bellwether Enterprise Secures $90M for LA Multifamily

Bellwether Enterprise Real Estate Capital, Cleveland, closed a $90 million permanent placement loan for 1133 Hope, a Class A Los Angeles apartment community.

BWE Senior Vice Presidents Stephen Perricone and Thomas Mazlo, both from the firm’s Philadelphia office, originated the loan.

The 208-unit, 28-story property at 1133 S. Hope Street in downtown Los Angeles delivered in 2020. The property includes floorplans ranging from studios to four-bedroom units. 1133 Hope is within two blocks of the L.A. Live entertainment complex, the Crypto.com Arena and the Los Angeles Convention Center.

An insurance company provided the permanent placement loan, which replaced a maturing construction loan.