CBRE’s Debt & Structured Finance platform has expanded its multifamily lending platform to include Freddie Mac’s new Small Balance Loan program.
The program, launched in October 2014, will allow CBRE to provide loans between $1m and $5m on buildings with five or more units. It features both fixed and floating rate mortgages. Terms include up to 80% loan-to-values.
Led by veterans Jeff Hurley and Mitchell Kiffe, CBRE’s debt team provided more than $14bn in apartment financing across the US in 2014. The Freddie Mac seller and servicer has been a top-three Freddie Mac lender since 2004, taking first place the past five years.
“This new program complements our existing multifamily programs and is a great addition for our capital markets team,” Kiffe said. “There is a strong demand for small balance multifamily lending in the marketplace.”