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Brokerage
Posted: February 6, 2009
DBBM arranges $51m in Freddie Mac refinancing for 493-unit apt. property
Deutsche Bank Berkshire Mortgage (DBBM) provided a $51 million Freddie Mac loan for the refinancing of Fairfield Crossing, a 493-unit garden-style apartment community. The financing was structured to be a seven-year interest-only loan and was funded to 59% of value. The property was built in 1966 and renovated in 1991.
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