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Walnut Woods

Turlock, California

Project Description

Built in 1986, and acquired and renovated by the sponsor in 2011, Walnut Woods is a 100 unit apartment community located

in Turlock, CA. The property consists of one- and two-bedroom floor plans. Unit amenities include central heat and air, patios/

balconies, fully equipped kitchens, washer/dryer hook-ups, vaulted ceilings in select units, and fireplaces in select units. The

property is located in a park-like setting with mature landscaping. Community amenities include a swimming pool and spa, fitness

center, on-site laundry, covered parking and on-site maintenance.

Challenges

On this transaction, the sponsor faced a very tight timeline to accommodate their quarter end partner distributions and existing loan payoff date. The sponsor called on Bellwether Enterprise to quickly identify the best available financing to meet their timeframe.

Results

Bellwether Enterprise, working closely with Freddie Mac, was able to respond quickly and deliver a new permanent loan in 21

days from application to close. Bellwether Enterprise’s private ownership and entrepreneurial culture, enabled Bellwether’s West

Coast office to move quickly to find the best available financing on behalf of the sponsor.

Loan Amount

Originated by

$8,860,000

Lauie Morfin

Product

Freddie Mac Fixed Rate

21 Days Close

Lender

Freddie Mac

© 2020 by Bellwether Enterprise Real Estate Capital, LLC, a subsidiary of Enterprise Community Investment, Inc. Bellwether Enterprise is a national, full-service commercial and multifamily mortgage banking company that puts people and communities first. As a subsidiary of Enterprise Community Investment, Inc., we support its mission of creating and preserving affordable housing in thriving communities. With an unwavering commitment to regional expertise and unmatched customer service, we are making an impact beyond the bottom line.  We provide a variety of loan products from Life Insurance Companies and Pension Funds, Freddie Mac Targeted Affordable Housing Lender and Optigo® Lender, Fannie Mae Delegated Underwriting and Servicing (DUS®) - Multifamily Affordable and Market Rate Housing Lender, FHA, USDA and CMBS to name a few. We are Capital on a Mission. 

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