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CWCapital Finances $27M in Commercial Properties

NEEDHAM, MA-CWCapital makes its presence felt in the western region of the country. The locally based national lender provided $26.8 million in financing for four commercial properties in Arizona, California and Alaska.

By Naomi Grossman | Updated on February 19, 2004

NEEDHAM, MA-CWCapital provided $26.8 million in financing for four commercial properties located throughout the country’s western region. The loans were provided through the locally based national lender’s commercial conduit program.

The Hendeles portfolio, which consists of four separate apartment loans, was refinanced for a total of $13.9 million. The portfolio of properties is located in the Sierra Vista and Casa Grande area of Arizona and is comprised of a total of 594 units constructed in 1983, 1984 and in 1986. Jefferson Self Storage located in Murrieta, CA, received $3 million. The property, built in 1999, is a class A property that consists of 479 units at the convergence of the 215 and 15 Freeways. Russian Jack Apartments, a 138-unit luxury, class B apartment complex located in Anchorage, AK, was financed for $5 million. The property, located adjacent to an air force base, is 25% occupied by military personnel. Lawndale Plaza, located in Lawndale, CA, was refinanced for $3.9 million. The 52,977 sf retail property was constructed in 1978.

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