Freddie Mac conducted its first bulk sale to test the market for seasoned multifamily loans and discovered strong investor interest.
Thomas Barrack’s Colony Capital won the bidding for the 27 performing multifamily loans, beating out 22 other parties.
"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 Freddie senior vice president Mike Lipson.
Freddie generally securitizes newly originated
Mission Capital Advisors served as Freddie’s loan sale advisor. "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 MCA managing director Will Sledge.
