Bellwether Acquires P/R Mortgage & Investment Servicing Portfolio
Bellwether Real Estate Capital LLC, is merging with Enterprise Community Investment, Inc.'s Multifamily Mortgage Finance business. The new company, Bellwether Enterprise Real Estate Capital, will offer greater geographic reach and product offerings.
October 10, 2011
Cleveland, Ohio (October 10, 2011) - Bellwether Real Estate Capital, LLC announces that it acquired a 50 loan, $255 million Freddie Mac multifamily servicing portfolio from P/R Mortgage and Investment Corporation on September 16, 2011. P/R Mortgage and Investment Corporation is headquartered in Carmel, Indiana.
This acquisition increases Bellwether's total servicing portfolio to over $4 billion with $450 million in Freddie Mac servicing.
"We are excited to continue the expansion of Bellwether's presence in the state of Indiana with this Freddie Mac acquisition. Bellwether is not only demonstrating its commitment to growing our Midwestern presence but also our overall dedication to building Bellwether's footprint in the future," added Debbie Rogan, Bellwether Real Estate Capital, LLC Executive Managing Director.
"I am looking forward to meeting and working with these new borrowers, which represent some of the best real estate companies in Indiana, on their future financing needs," said Ross Halloran, Bellwether Senior Vice President, who will be working with the portfolio for refinance possibilities.
