Orlando, Fla.–Deutsche Bank Berkshire Mortgage (DBBM) provided a $20 million loan for the acquisition of Venue Apartments, a 306-unit garden-style apartment community located in Orlando.
The loan was structured to be a 10-year, fixed-rate capital markets execution (CME), with one year of interest only followed by 30-year amortization.
This is DBBM’s sixteenth Freddie Mac CME transaction. The Freddie Mac CME product connects borrowers to the capital markets via a securitization, typically providing lower interest rates over a portfolio execution.
“This transaction demonstrates the growing appetite in the market for Freddie Mac’s CME platform and DBBM’s expertise in the CME product,” said Jeff Day, co-head of DBBM. “Through collaboration with Freddie Mac, we were able to leverage our relationships and make this a seamless transaction.”