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Sabal Capital Closes Record $129M Freddie Mac SBL Portfolio

Sabal Capital Partners, LLC closes a multi-million-dollar multifamily portfolio of Emerald Equity Group's affordable housing in the Bronx, completing the largest Small Balance Loan transaction in Freddie Mac's history. 

By Betsy Kim | Betsy Kim | Updated on October 09, 2017
2224 Lyon Avenue Emerald Equity property at 2224 Lyon Avenue

NEW YORK CITY—David Brickman, executive vice president and head of Freddie Mac, tells GlobeSt.com that the $129-million dollar transaction with Sabal Capital Partners, LLC serving as the lender ensures that the Emerald Equity Group’s multifamily apartments are preserved as workforce housing in the Bronx.

“This is the largest Small Balance Loan transaction in Freddie Mac SBL history, and it underscores the flexibility, responsiveness and streamlined process that are synonymous with our program,” says Brickman.

On an aggressive schedule, Sabal Capital Partners, LLC analyzed, underwrote and closed on time, each of Emerald Equity Group’s 34 refinance loans, encompassing more than 850 affordable rental units at 34 properties.

Pat Jackson, chairman and CEO of Sabal Capital, described his company’s two-day marathon of individual loan closings that involved site inspections with five third parties, appraisals, environmental reports, Freddie Mac credit division reviews, commitment letters, legal review, title analysis and loan documents for each of the properties.

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