Mission Obtains $100M Fannie Debt Facility

Mission Residential LLC, a multifamily real estate investment firm based in Oakton, Va., has obtained a $100 million Fannie Mae debt financing commitment from Red Mortgage Capital Inc., Columbus, Ohio.Red Mortgage is a Fannie Mae Delegated Underwriting and Servicing lender. Under the terms of the agreement, Fannie Mae will provide permanent first-mortgage debt financing with pre-negotiated underwriting terms and agreed-upon documentation, Mission said. "Access to attractive debt capital during this period of credit market stress provides us with a huge advantage in making acquisitions," said Mission managing principal Christopher C. Finlay. Mission can be found on the Web at http://www.missionresidential.com.