In The News
Bellwether Enterprise Names DJ Effler as President
Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (Enterprise), announced today that DJ Effler has been promoted to president of the company, effective January 1, 2021. Ned Huffman will continue to serve as chief executive officer and work closely with Effler through the transition and in his new role as president.
TurnCap records first close on its debut investment fund
In retrospect, launching a real estate investment company in the beginning of March — days before the spread of COVID-19 spurred the first lockdowns — doesn't feel like ideal timing for Beachwood's TurnCap.
With work from home becoming a common standard in today's environment as the pandemic lingers, the broader commercial real estate market is getting hammered as scores of companies revisit their spatial needs and back rent piles up.
Bellwether Arranges Loan on Brooklyn Affordable Project
Bellwether Enterprise Real Estate Capital’s Jim Gillespie and Ilya Weinstein originated a $5,672,000 loan in Brooklyn on behalf of the borrower, CB Emmanuel, and its nonprofit partner, Services for the UnderServed. The project, 461 Alabama Apartments, will be a 71-unit, 100% affordable apartment complex.
Vacant Office Building in Lakewood to be Converted into Affordable Housing for Local Artists
Construction is currently underway on Notable, a 5-story, 218-unit affordable community in Lakewood that will provide artists, teachers and others that serve the community, the ability to live in the area they work.
Zocalo Community Development will serve as the developer, general contractor and property manager. The project is reported to have received $47.6 million in construction financing, arranged by Bellwether Enterprise Real Estate Capital through the direct purchase of tax-exempt and taxable bonds issued by Colorado Housing and Finance Authority
Bellwether Enterprise closes $88 million in loans for affordable housing communities in Texas
Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., announced the closing of three loans totaling $88,435,000 for the creation and preservation of affordable multifamily housing communities in Austin and Garland, Texas.
Phil Melton, executive vice president and national director of affordable and FHA production in Bellwether Enterprise’s Dallas office and Cindy Hannon, senior vice president in the Duluth, Georgia office, originated the three Texas loans.