Deutsche Bank Takes Berkshire Mortgage

NEW YORK CITY-Deutsche Bank gains a key multifamily component as Berkshire Mortgage Finance LP becomes part of Deutsche’s Global Real Estate Debt Markets group within the bank’s Global Corporate Finance business. The financial terms of the deal were not disclosed; however, Berkshire, a subsidiary of Boston-based Berkshire Group, has a mortgage-servicing portfolio that totals more than $18 billion in the multifamily marketplace.

Deutsche Bank will acquire substantially all of Berkshire Mortgage’s origination and servicing assets. The transaction is expected to close in the fourth quarter.

The two firms anticipate that the businesses will complement each other and that Berkshire will advance Deutsche’s presence in originating, financing, structuring, securitizing and trading commercial real estate debt. “Uniting these complementary businesses will further solidify Deutsche Bank’s position,” notes Jon Vaccaro, global head of Deutsche Bank’s Real Estate Debt Markets business.