Search Results: Freddie Mac

Between the Federal Reserve’s efforts to bolster market liquidity, the President’s acknowledgement that the economy is in the midst of “challenging times” and the acquisition by JPMorgan Chase & Co. of The Bear Stearns Cos. on the cheap, the recent news out of the business world has been bleak. However, if you’re a contrarian, like Houston’s Oxford Funding Corp., then all those things may be good news. On Sunday, the Federal Reserve Board authorized the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization…

The River House Apartment Complex, Vornado Realty Trust’s 1,670-unit residential property sited just a stone’s throw from Washington, D.C., has been refinanced to the tune of $260 million.Vornado’s two-part financing deal was comprised of a $196 million seven-year interest-only mortgage at a fixed rate of 5.43 percent, and a $64 million interest only 10-year floating rate mortgage secured at 4.36 percent, a rate that combines the Freddie Mac Reference Note rate with an additional 1.53 percent.Consisting of three high-rise structures, River House is located in the Arlington, Va., submarket of Pentagon City. The property was completed in 1958 and underwent…

Wells Fargo & Co. has expanded its multi-family financing services with a new office in Houston and the hiring of a mortgage originator there. Tony Talamas has joined Wells Fargo Multifamily Capital to focus on the origination of Fannie Mae and Freddie Mac loan programs for clients in Texas and surrounding states.  “With the CMBS market and other lending sources either unwilling or unable to lend at competitive terms, if at all, my group continues to offer attractive rates, terms and flexible financing solutions. The opening of a new Texas office in Houston, reflects a positive outlook for the Houston…

“Prudence Took a Vacation, and Then She Came Back” is what moderator Shekar Narasimhan, managing partner of Beekman Advisors Inc., nicknamed the multi-family session “The Music Stopped: Who Has a Chair?” at the Mortgage Bankers Association’s Commercial Real Estate Finance/Multi-family Housing Convention & Expo, and it was a fitting title. Generally, the speakers agreed that while the commercial and multi-family markets can expect some pain, especially given a number of unknowns to come, the credit crunch and single-family fallout have proven to be more of a much-needed wakeup call than anything else. That’s not to say there won’t be some…

While the portion of the President’s proposed economic growth plan related to the housing industry is focused on homeowners, the commercial real estate industry would benefit, albeit indirectly.  This afternoon, the plan took a major step toward passage, with Senate Majority Leader Harry Reid confirming that the House had reached a tentative agreement on the aid package, according to Reuters. “We’re going to take another look at it when it comes here (to the Senate),” Reid said, noting that that Congress would attempt to pass the $150 billion plan to the White House before a mid-February Congressional recess. According to…