2009 Midsummer Dream: Multifamily Loan Closings Surge

July 31, 2009
Posted in: News
By: Gerson

GERSON LAW FIRM APC assisted Fannie Mae and Freddie Mac multifamily lending program’s surge of loan closings throughout June and July.

Loan closings in July for which GLF provided lender representation included more than $60,000,000 in financing of two apartment complexes in Dallas, as well as apartment complexes in Goleta and Vacaville, CA. These Freddie Mac and Fannie Mae closings followed a robust June with lender representations on multifamily closings in Dallas and Los Angeles.

“GLF continues to be the west coast law firm of choice for lenders who close Freddie Mac and Fannie Mae loans,” said Gordon L. Gerson. “We have actually witnessed client growth in this specialty area, during a period of time in which most law firm’s finance origination departments have shut down.”

During the same period in which GLF closed loans, it also worked on numerous loan modifications and other work-outs of distressed real estate of all character, including three car dealership franchise locations shutdown in reaction to the wallops taken by Detroit automakers.