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Freddie Mac Purchases 13 Mortgage Loans From Deutsche Bank Berkshire Mortgage

McLean, VA – Freddie Mac (NYSE:FRE) purchased 13 crossed mortgage loans covering 13 properties and 4,513 units across the country from Deutsche Bank Berkshire Mortgage (DBBM) through a $500 million structured facility. The repeat borrower, Equity Residential (EQR), is the largest publicly traded owner of multifamily properties in the United States.

News Facts

• The properties are located in California, Arizona, Washington state, Florida, and Virginia.

• The transaction benefited from the Freddie Mac Multi-Asset Crossed Facility, one of three conventional structured facility products Freddie Mac offers.

• The properties were all built between 1985 and 2002, are well-maintained and in good condition.

• The properties all have at least 140 units and 652 units at most for a total of 4,513 units.

• Almost 2/3 of the units are rented at levels that are afffordable to residents with low or moderate incomes.

Quotes

Attributed to Kip Kimble, director at DBBM

• “We were very pleased with Freddie Mac’s ability to make this a swift and seamless transaction as they continue to be a great source of mortgage capital. We were able to provide EQR with competitive loan terms, as well as certainty of execution, in the midst of a challenging credit environment."

Attributed to Mitchell Kiffe, vice president of Freddie Mac Multifamily production and sales:

• “Freddie Mac’s structured facility product was custom-built to meet the needs of EQR and DBBM.  Freddie Mac has a Conventional Structured Finance team dedicated to tailoring solutions such as this one for our borrowers.”

Conventional Structured Facility Product Information

• The Freddie Mac Multi-Asset Crossed Facility provides immediate funding for acquisition or refinance of a portfolio of assets. Freddie Mac’s structured facility products can be paired up with many of its existing conventional mortgage offerings to create a custom-built execution based on the borrower’s investment strategy. With pre-negotiated pricing and loan documents, the Freddie Mac structured facility products are one of the most efficient forms of execution for active multifamily borrowers.

Related Links

• http://www.db.com/usa/
• http://www.equityresidential.com/
• http://www.freddiemac.com/multifamily/termsheet_conventional-structured.html

Since the launch of Freddie Mac's multifamily business in 1993, it has provided more than $214 billion in financing for approximately 56,000 multifamily properties.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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