So What was the purchase price and will homeowners who are involved in this sale be notified?
Don’t be fooled by the title.
Freddie Mac-
MCLEAN, VA–(Marketwired – Oct 14, 2013) – Freddie Mac (OTCQB: FMCC) recently completed its first Multifamily bulk loan sale. An affiliate of Colony Capital purchased the portfolio of 27 performing mortgage loans with an unpaid principal balance of $195 million, which included multifamily, student housing and assisted-living facilities. Freddie Mac retained Mission Capital Advisors as loan sale advisor.
“This transaction marks our first multifamily bulk loan sale. We were pleased with the strong investor demand as evidenced by the 23 bids on the loan portfolio,” said Mike Lipson, senior vice president of Multifamily Asset Management and Operations for Freddie Mac.
Mission was involved with all aspects of the transaction, including valuation and analysis, establishing and maintaining the due diligence data room, conducting multiple bid rounds and assisting Freddie Mac with the settlement and closing five days after the final bid date.
“The deep investor interest in this performing transaction, which ran the spectrum from balance sheet lenders to private equity funds, was further proof that the U.S. real estate recovery is gathering steam despite recent interest rate volatility,” said Will Sledge, Managing Director of Mission. “We were extremely pleased with the outcome and firmly believe that fundamentals versus merely low absolute rates are now driving the market.”
