The Houston-based Camden sold 4,034 units in Las Vegas, Phoenix, Dallas, Orange County CA and its homeport. To close the deal, the JV secured $272 million from Fannie Mae. Red Mortgage Capital of Columbus arranged the financing. Banc of America Securities was the sole financial adviser to Camden, which used the proceeds to pay down debt and fund part of the cash consideration spent for the recent merger with the Charlotte, NC-based Summit Properties Inc.
Headquartered in Purchase, NY, the Tuckerman Group is part of State Street Global Alliance LLC, a jointly owned subsidiary of State Street Global Advisors, the investment management arm of State Street Corp., and Dutch pension fund, Stichting Pensioenfonds ABP, the world's second largest pension fund.
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