Deutsche Bank Berkshire Mortgage Provides $161.45M Loan for Acquisition of 11 Properties
- Nov 08, 2010
Boston–Deutsche Bank Berkshire Mortgage (DBBM) recently provided a fund managed by Eaton Vance Management with a $161,450,000 loan to acquire a pool of 11 multifamily properties located across seven states.
The 11 individual loans were structured under the Freddie Mac Capital Markets Execution (CME) to be a fixed rate, 10-year term with a two-year interest-only period.
“We were able to work quickly with Freddie Mac to streamline the process and close the loans,” says Steve Wendel, co-head of DBBM. “All parties worked collaboratively to help make this a seamless transaction.”
The 11 properties represent a total of 3,011 units. They are located in Arizona, Florida, Georgia, Missouri, North Carolina, Texas and Washington.