Capital Markets ExecutionSM Pilot Product and Partnership With Customer Help Create "Refreshing" Collaboration
|Name:||Church Park Apartments|
|Loan/Deal Type:||Freddie Mac Capital Markets Execution (CME) pilot|
|Number of Units:||508 units|
|Loan Amount:||$130 million|
Freddie Mac recently purchased a $130 million loan from CWCapital, LLC for Church Park Apartments. This transaction is one of several this year that have benefited from the Freddie Mac Capital Markets Execution (CME) Pilot.
New Freddie Mac borrower United Company Apartments, LLC, refinanced their flagship property, the Church Park Apartments in Boston, a mid-rise apartment complex with two buildings comprising 508 units. The property is located in the heart of Boston’s Fine Arts and Cultural District, near Back Bay and Fenway Park, and is the cornerstone property of the neighborhood.
"It is refreshing to work with a team that continues to have a strong entrepreneurial approach to the business."
vice president, CWCapital, LLC
"This deal required flexibility, creativity and commitment, and Freddie Mac was clearly committed to winning this business as much as CWCapital was,” said Andrew Gnazzo, vice president of CWCapital. “In the current lending environment, it is refreshing to work with a team that continues to have a strong entrepreneurial approach to the business. It was truly the successful collaboration of two highly focused teams working as one that brought this loan to a close."
Loan amounts for the Freddie Mac CME Pilot are typically from $5 million to $100 million (loans as low as $3 million will be considered in certain strong markets), and the available loan terms are 5, 7, or 10 years.
- Read More Examples of Multifamily Financing