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GERSON LAW FIRM APC closed a portfolio of fourteen apartment loans in Saint Louis on behalf of an Irvine, California-based multifamily lender during the last week of March and with an additional one the following week.
The 14 loans totaling more than $50 million were secured by multifamily projects in Saint Louis, and were underwritten and closed as part of Freddie Mac’s small balance lending program for loans of up to $7.5 million. All loans originated will be securitized in connection with Freddie Mac K-deal securitizations.
This was the fifth portfolio of 10 or more loans closed by GERSON LAW FIRM as part of Freddie Mac’s SBL program for multifamily projects. GERSON LAW FIRM has represented Freddie Mac licensed seller/servicers in closing more than 850 Freddie Mac Multifamily SBA loans since the program’s inception in 2014. During March 2017, GERSON LAW FIRM also represented lenders in closing large multifamily loans of more than $430 million under Freddie Mac’s CME program, as well as representing Fannie Mae multifamily lenders on similar size multifamily loans and commercial real estate loans for banks and credit unions.