""Freddie Mac"":http://www.freddiemac.com/ has announced the completion of its first multifamily bulk loan sale to a global real estate investment firm.
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An affiliate of ""Colony Capital"":http://www.colonyinc.com/index3.html purchased the GSE's portfolio of 27 performing loans with an unpaid principal balance of $195 million. The portfolio included loans for multifamily, student housing, and assisted living facilities.
Mike Lipson, SVP of multifamily asset management and operations for Freddie Mac, said the company is pleased
[COLUMN_BREAK]with the strong demand exhibited for the portfolio, which received 23 bids from various investors.
Advising Freddie Mac on the sale was ""Mission Capital Advisors"":http://www.missioncap.com/, a national, diversified real estate capital markets solutions firm. The company was involved with all aspects of the transaction, including valuation and analysis, establishing and maintaining the due diligence data room, conducting multiple bid rounds, and assisting with the settlement and closing five days after the final bid date.
Will Sledge, managing director of Mission, also said he was pleased with the amount of attention the portfolio received from investors.
""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,"" Sledge said. ""We were extremely pleased with the outcome and firmly believe that fundamentals versus merely low absolute rates are now driving the market.""