GERSON LAW FIRM APC again demonstrated in May 2009 that it is the law firm of choice on the west coast for GSE multifamily loan programs.
GLF represented three GSE lenders making Fannie Mae and Freddie Mac multifamily loans totaling more that $70,000,000. Among loans closed was a series of complex transactions in Oregon, in which a junior lien holder acquired two apartment complexes with senior mortgages securing debt to Freddie Mac in the amount of more than $48,000,000, and as part of a series of transactions, assumed the senior debt and placed Freddie Mac supplemental financing for more than $6,000,000 on the two apartment complexes.
Among other major Freddie Mac multifamily loan closings by GLF in May were two apartment projects in San Diego with financings of more than $21,000,000 and $16,000,000.
Major Fannie Mae multifamily loan closings by GLF in May included a loan in Stockton, California for more than $16,000,000, and a loan for more than $8,000,000 in Oregon.
In addition to GSE loan closings, during the same period and in addition to other loan closing activities, GLF continued to serve the loss mitigation needs of its lender clients by being engaged in numerous loan work-outs, foreclosures and REO matters.