Middle Market Digest: The Mid-Atlantic

A holding in the East Beach Ocean View portfolio

NEWS & NOTABLES

WASHINGTON, DC–Fannie Mae has launched DUS Disclose, a new MBS disclosure website that replaces the Multifamily Securities Locator Service (MFSLS). It provides more data, disclosures as well as the ability to download expanded security, loan, and property level information. The GSE said the new website will enhance the transparency and increase the data available for multifamily securities. “We have worked closely with industry partners over the past six months in preparation of the site’s deployment and have received positive feedback,” said Dan Dresser, VP for Multifamily Capital Markets, Trading, and Credit Pricing. “The new DUS Disclose system ensures that our investors have the data they need to better analyze our multifamily securities.”

DEAL TRACKER

NORFOLK, VA–Greysteel has arranged the sale of the East Beach Ocean View portfolio. Rawles M. Wilcox, Brenden Hill and Jared Emery from the firm’s Norfolk, VA office negotiated the transaction on behalf of the seller, and Brendan Scanlon of the firm’s Washington, DC office arranged the financing on behalf of the out-of-state buyer, Brick Lane Real Estate. The East Beach Ocean View portfolio consists of 124 market-rate apartment units in Norfolk’s Ocean View submarket. The two-story apartment buildings were built between 1967 and 1972 and the portfolio includes five individual communities ranging from eight to 56 units.

GREENBELT, MD–KeyBank Real Estate Capital has provided a $56.25 million permanent mortgage loan to a joint venture between The Dolben Co. of Woburn, MA and Atapco Properties in Baltimore. The 10-year, fixed-rate loan, which was executed through Freddie Mac’s Lease-Up Program, refinanced the construction debt that funded the development of Verde at Greenbelt Station here. This execution used Freddie Mac’s Lease-Up Program, but also took advantage of Freddie Mac’s index lock program. The loan was originated by Dirk Falardeau under the direction of regional manager, Todd Goulet.