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Freddie Mac headquarters

WASHINGTON, DC–Managing Director Anthony Cinquini of Berkadia’s Los Angeles office doesn’t know which insurance company or investment bank tried to beat out Freddie Mac in its $508.7 million financing of Front Yard Residential’s affordable single-family home housing portfolio acquisition announced last week. But if he had to guess it was a combination of factors, such as the interest rate and the duration of the loan. Especially the duration of the loan, which was ten years. “The duration of the loan is a critical component to single-family rental home financing,” he tells GlobeSt.com.

Berkadia Commercial Mortgage arranged the loan via Freddie Mac’s affordable SFR pilot program. Front Yard acquired HavenBrook Partners, a Duluth, GA-based single family home property manager, as well as its portfolio of US-based 3,236 managed properties for $485 million.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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