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Flexibility in a Challenging Market Helps Close a $741.1 Million Structured Transaction

Location: 14 properties
Loan/Deal Type: Conventional Structured Finance products
Number of Units: 4,666 units
Loan Amount: $741.1 million

Freddie Mac recently purchased a $741.1 million pool of loans from Deutsche Bank Berkshire Mortgage to assist their client, AvalonBay, in financing 14 properties, comprising 4,666 units in California, Washington state, New Jersey, the District of Columbia, New York, Connecticut, Massachusetts and Maryland.

This transaction utilized the Freddie Mac Multi-Asset Crossed Facility, one of three Conventional Structured Finance products Freddie Mac offers, along with the Freddie Mac Revolving Credit Facility and the Freddie Mac Multi-Asset Flow Facility.

"Freddie Mac showed a lot of flexibility in resolving the various issues."

Kip Kimble
director, Deutsche Bank Berkshire Mortgage

"As with all transactions of this size and complexity, numerous issues arose throughout the underwriting and closing process. Freddie Mac showed a lot of flexibility in resolving the various issues, which was appreciated by both Deutsche Bank and AvalonBay," said Kip Kimble, Deutsche Bank Berkshire Mortgage director. "This was particularly remarkable given the challenging capital markets environment."

Freddie Mac’s structured facility products can be paired up with many of our existing conventional mortgage offerings to create a custom-built execution based on your current investment strategy. Freddie Mac structured facility products are among the most efficient forms of execution for active multifamily borrowers.

© 2013 Freddie Mac

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