DBBM provides $86.9 million refinancing package for three Maryland properties

Deutsche Bank Berkshire Mortgage (DBBM) has provided RREEF, the alternative investment management division of Deutsche Asset Management, an $86.9 million Fannie Mae DUS loan to refinance a pool of three properties in Maryland. The financing was structured to be a 10-year interest-only loan and was funded 60% of value. "The success of this transaction was tied to our strong overall GSE Investor relationship," said Steve Wendel, co-head of DBBM. "As the markets continue to improve, are able to provide competitive financing packages that best addressed our client's needs." The portfolio consists of the following three assets: * The Versailles in Towson with 210 units. * The Courts at Avalon in Pikesville with 258 units. * The Huntington at King Farm in Rockville with 402 units.