CB Richard Ellis - N.E. Partners, LP's (CBRE) Capital Markets team recently closed two multi-housing financings totaling $77.83 million. Station 250, a 285-unit, class A apartment community in Dedham, that sold for $94.25 million in August, and Stoney Brook Village, a 202-unit value-add apartment community in Millis, that sold for $21 million in September, were both sold and financed by CBRE.
The deals were financed using CBRE's Fannie Mae and Freddie Mac lending platforms. For the Station 250 transaction, CBRE provided a $60 million Freddie Mac loan. Stoney Brook Village was financed for $17.83 million via CBRE's Fannie Mae DUS program.
"The integration of the multi-housing investment sales group and the financing team were on display during both these recent transactions," said John Kelly, vice president of CBRE's mortgage brokerage team.
"CBRE's clients saw the benefit of this integration through the seamless sales and financing process. We look forward to building on this success with some of our upcoming transactions."