“The properties were located across three Atlanta submarkets and contributed to Freddie's mission to provide financing for quality and affordable workforce housing,” says Freddie Mac producer Steven Malloy. Since joining the Freddie Mac Small Loan Balance program in April 2015, CBRE has closed more than $1 billion in small multifamily loans.

In case you missed it: Multifamily gurus talked recession, interest rates and pipelines this week at RealShare Apartments East. Check out some of the coverage.

ATLANTA—A 10-loan multifamily portfolio in Atlanta has won the confidence of Freddie Mac. CBRE Capital Markets' Wholesale Lending provided $19 million in funding under the Freddie's Small Balance Loan Program. The multifamily portfolio has 458 units across 12 apartment properties in Atlanta.

Jeffrey Pirhalla, vice president of Wholesale Lending at CBRE, refinanced the multifamily properties with 20-year hybrid ARM loans. The loans feature a 10-year fixed-rate period followed by 10 years with an adjustable rate.

“Borrowers seeking small balance loans for their multifamily investments continue to take advantage of long term fixed rate non-recourse financing with multiple options including interest-only and flexible prepayment penalties,” Pirhalla tells GlobeSt.com. “It also provided the borrower with cash-out proceeds and three years of interest-only payments, which significantly increased cash flows across the portfolio.”

Kelly Martone of Bellwether Enterprise brought the deal to CBRE on behalf of the borrower, Nelkin Real Estate. The multifamily properties included in the portfolio met the requirements for the Freddie Mac Small Balance Loan Program, which supplies financing ranging from $1 million to $6 million to qualified multifamily borrowers.

“The properties were located across three Atlanta submarkets and contributed to Freddie's mission to provide financing for quality and affordable workforce housing,” says Freddie Mac producer Steven Malloy. Since joining the Freddie Mac Small Loan Balance program in April 2015, CBRE has closed more than $1 billion in small multifamily loans.

In case you missed it: Multifamily gurus talked recession, interest rates and pipelines this week at RealShare Apartments East. Check out some of the coverage.