DALLAS—CBRE Capital Markets' Debt & Equity Finance group recently arranged multiple loans exceeding a total of $1 billion to finance the acquisition of a portfolio of 27 multifamily assets located in eight markets across the US. The portfolio will be closed and funded in two stages: Feb. 12 and in late March.
CBRE worked exclusively on behalf of the borrower, a joint venture between Goldman, Sachs & Co. and Greystar, to arrange the 27 individual Freddie Mac loans. The seven-year, loans are non-crossed and float over 30-day Libor.
Goldman and Greystar purchased the portfolio from the seller, Equity Residential, for $1.5 billion, or approximately $187,000 per unit.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
