BOSTON- CB Richard Ellis’ capital markets division has completeda $166.7-million multifamily portfolio refinance on behalf of afund managed by locally based Eaton Vance Management, GlobeSt.comhas exclusively learned. The debt was originated through FreddieMac’s Capital Markets Execution program.

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The portfolio consists of seven apartment communities and over2,100 units located in five states. Three are in Florida, locatedin Pembroke Pines, Altamonte Springs and Boynton Beach,respectively. There are also properties in Phoenix, Houston,Atlanta and Riverside, CA. All seven 10-year, fixed-rate loans wereunderwritten individually and on a non-crossed basis, CBREsays.

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Paul Donahue, SVP in CBRE New England’s Boston office, tellsGlobeSt.com that while the deal could have been accomplished sixmonths ago, the rates would not have been as attractive. “Throughthe downturn, the GSEs as well as the life companies have beensteady, especially in multifamily,” Donahue says.

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Along with Donahue, other CBRE participants in the refi wereMiami-based vice chairman Charles Foschini and EVPs RobertLaChapelle, Rocco Mandala, Holly Minter and Troy Tegeler, based inAtlanta, Phoenix, Houston and Newport Beach, CA, respectively. As amatter of policy, Eaton Vance does not disclose which of the fundsit manages are buying specific properties.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.