The private multifamily and healthcare properties lender has provided four fixed-rate agency loans with 30-year amortization schedules since the beginning of September.
CBRE Capital Markets has arranged one of the largest multifamily transactions of 2016, placing $500 million of Freddie Mac financing on Strata Equity Group’s $720 million acquisition of a 24-property portfolio spanning four US states.
Capital One Multifamily Finance has provided an $89.25 million Freddie Mac loan to the company that owns the housing community Windsor Park in Queens, New York City.
Berkeley Point Capital has provided a $211.9 million refinancing on a 9-property portfolio to Steadfast Companies and its Steadfast Income REIT. The national lender of agency and non-agency multifamily loans provided the seven year, floating-rate loan through Freddie Mac.
Kennedy Wilson has secured a $62.6 million Freddie Mac financing on a 430-unit Belara at Lakewood apartment community in the Seattle, Washington suburb.
After a historical year for multifamily loan originations, GSE lenders should expect to do more or better this year, despite a slowdown in multifamily prices. That was the message CRE finance insiders heard at the GSE Multifamily Forum session, led by both borrowers and lenders, yesterday at the CRE Finance Council annual conference in Manhattan.
The top government housing agency has increased the multifamily lending caps for Fannie Mae and Freddie Mac by $4 billion for 2016, based on estimates of the increasing size of multifamily finance market this year, from $31 billion to $35 billion, effective immediately.
The floating rate loan supported the acquisition of a 427-unit apartment community in St. Paul, Minnesota. HFF will service the loan through its Freddie Mac Program Plus Seller/Servicer program.
HFF has arranged $120.5 million in financing for the acquisition of a senior housing community in Seattle and the development of another in Orange County, California.
The average loan interest rate ranged from 6 percent to a little over 4 percent, and the average loan maturity was 18 years, Richard Bassuk, chairman and CEO of advisory firm Greystone Bassuk Group, told Real Estate Capital.