CBRE Cap Markets Refis TIAA-CREF Assets

NEW YORK CITY-A New York high-rise was among four multifamily properties that national financial services organization TIAA-CREF was able to refinance through CBRE’s Capital Markets group. The group put together a $223.1-million deal for the properties, which also included apartment buildings in Los Angeles, San Diego and Dallas.

Brian Eisendrath, who heads CBRE’s Multifamily Debt and Equity Finance team out of Los Angeles, arranged the 10-year fixed-rate loans through Freddie Mac. All of the properties have an existing Freddie Mac mortgage, and all were originated prior to Freddie Mac launching its capital market execution, which allows them to reduce their balance sheet holdings.