""Berkadia Commercial Mortgage"":http://www.berkadia.com, a special, master, and primary servicer based in Horsham, Pennsylvania, is expanding its commercial real estate financing options offered through its nationwide mortgage banking network. The addition of fixed-rate loans for inclusion in the[IMAGE] [COLUMN_BREAK]
new generation of commercial mortgage-backed securities (CMBS) is expected to be available in early 2011.
""Berkadia's fixed-rate loan program is unique in the market,"" said Berkadia's SVP, Joseph Franzetti, who will manage the fixed-rate loan origination program. ""We are in discussions with potential capital markets partners, and Berkadia is poised to be the only mortgage banking firm providing proprietary capital for CMBS loans. This gives our clients the best of both worlds-access to the capital markets delivered by local mortgage bankers.""
Also under development is a short-term floating-rate loan program, which will provide temporary financing to select multifamily borrowers with pending ""Fannie Mae"":http://www.fanniemae.com or ""Freddie Mac"":http://www.freddiemac.com executions.
""These programs are positive developments for our clients,"" said John Cannon, EVP of Berkadia's Agency Lending Group. ""Following more than two years characterized by extremely limited financing options, Berkadia is pleased to provide additional choices.""