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HSBC Arranges $350M Multifamily Deal

NEW YORK CITY-Freddie Mac financing funds a 22-piece apartment portfolio in four southern states.

By Carl Cronan | Updated on April 02, 2008

Carl Cronan is editor of Real Estate Florida.

NEW YORK-HSBC Bank USA has arranged $350 million in Freddie Mac loans to DRA Advisors LLC for the purchase of a 22-property apartment portfolio. The properties, totaling 4,781 units and are located in Georgia, North Carolina, South Carolina and Tennessee.

“HSBC’s execution of this complex transaction, under a very aggressive time frame, was critical in facilitating our acquisition of this portfolio,” Brian Summers, managing director of DRA Advisors in New York City, states in a news release. Summers was unavailable for comment Tuesday and no additional details on acquired properties were released.

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