"Due to the imbedded cap structure, and taking advantage of the floating cap loan, this was one of Freddie Mac's most sought-after programs," adds Michael Lindgren, director for DBBM.
The mortgages were provided for the garden-style apartment communities for Ramblewood Village Apartments, a 504-unit complex located in Mt. Laurel, NJ; the 500-unit Foxfire Apartments, located in Laurel; MD; Top of the Hill Apartments, a 414-unit complex in Wilmington, DE; and Birchwood at Boulders Apartments in Richmond, VA, a 284-unit property.
Panzer Properties is a privately owned, fully integrated, owner/operator of multifamily apartment communities in the Northeast, Mid-Atlantic and Southeast states that acquires class A and B residential assets with an annual acquisition target of $250 million.
Deutsche Bank Berkshire Mortgage is a part of Deutsche Bank's Global Commercial Real Estate.
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