Briefs from Reonomy, Walker & Dunlop and Timberland Partners
Reonomy Adds CMBS Data
Reonomy added commercial mortgage-backed securities data to its national coverage.
This update gives access to ongoing CMBS financials to gain further insight into loan performance. Users can streamline the discovery process for refinancing opportunities with the ability to search by loan performance information and interest rates as well as maturity date.
Walker & Dunlop Designated a Freddie Mac Optigo Small Balance Lender
Walker & Dunlop, Bethesda, Md., announced its dedicated multifamily small loans team, WDExpress, is now an approved Freddie Mac Optigo Small Balance Lender.
As an approved lender, Walker & Dunlop is part of a select group of 12 experienced multifamily lenders that work exclusively with the Freddie Mac Small Balance Loan production team. The designation provides a platform to originate and sell multifamily loans of $1 million – $7.5 million and with at least five apartment units nationwide.
To help support the nationwide need for affordable housing, Freddie Mac offers special programs for small balance loans. Smaller properties play a unique role in the rental housing market, as they tend to be more affordable and located in urban areas. Through the Freddie Mac SBL program, WDExpress can provide sustainable and affordable financing solutions with terms that meet their clients’ specialized needs, including:
Non-recourse loans
Fixed and hybrid floating-rate options
Interest-only available
Lower closing costs than traditional agency financing
Ability to lend in secondary and tertiary markets
Timberland Partners Raises $50 Million for Multi-Asset Apartment Investment Fund
Real estate investment, management and development firm Timberland Partners, Minneapolis, announced its largest real estate fund has reached the halfway point with $50 million raised since the fund launched in January.
Through Timberland Partners Apartment Fund VII (TPAF VII), the firm plans to raise $100 million to acquire and manage class A and B apartment communities in the Midwest and Southeast markets of the United States, significantly growing its portfolio. Thus far, Timberland has acquired and is managing four properties that have been purchased as part of TPAF VII:
The Meridian at Walnut Creek in Rogers, Ark. (220 units)
Meadowridge Apartments in St. Peter’s, Mo. (180 units)
The Trails at Cahaba River in Birmingham, Ala. (400 units)
Encore Memorial in Bixby, Okla. (248 units)
