NEW YORK CITY-In a move to provide liquidity to the growingmultifamily market, financial services firm Ranieri RealEstate Partners LP and private equity funds affiliatedwith WL Ross & Co. LLC have entered into adefinitive agreement to acquire Deutsche Bank BerkshireMortgage, a subsidiary of Deutsche Bank,the firms unveiled Monday morning.

While terms of the agreements could not be disclosed due toconfidentiality agreements, the firms plan to expand DBBM’s $28billion multifamily loan servicing and origination company, whichis comprised of nearly 2,200 loans in 45 states and the District ofColumbia. It is expected to close by the end of the year, and thecompany will be renamed following the closing, subject to approvalsby Fannie Mae, Freddie Mac and the Federal HousingAdministration.

Jon Vaccaro, co-founder of CEO of Ranieri RealEstate Partners LP, says the transaction comes at an “important”time as the fundamentals of the multifamily market continue toimprove. “The shifting preference toward renting over homeownership to fuel significant new demand,” he says, makes “DBBM astrong platform for future growth.”

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