{"id":1004039795,"date":"2012-03-13T04:05:59","date_gmt":"2012-03-13T12:05:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004037384"},"modified":"2022-12-08T19:44:13","modified_gmt":"2022-12-09T03:44:13","slug":"ranieri-ross-complete-acquisition-of-renamed-deutsche-bank-berkshire-mortgage","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ranieri-ross-complete-acquisition-of-renamed-deutsche-bank-berkshire-mortgage\/","title":{"rendered":"Ranieri, Ross Complete Acquisition of Renamed Deutsche Bank Berkshire Mortgage"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/strong><\/p>\n

Ranieri Real Estate Partners L.P. and private equity funds affiliated with WL Ross & Co. L.L.C. have completed their acquisition of Deutsche Bank Berkshire Mortgage, formerly a subsidiary of Deutsche Bank. The powerhouse multi-family loan origination and servicing company has been renamed Berkeley Point Capital, but Jeffrey C. Day, an 11-year veteran of the company, remains CEO, as announced last fall.<\/p>\n

The initial announcement of the acquisition last September<\/a> indicated that the deal would probably close before the end of 2011. The delay appears to have resulted from nothing more than typical timing slippage of no particular consequence.<\/p>\n

In any case, it doesn\u2019t appear to have affected the deal\u2019s rationale, based on the fundamentals in the multi-family market. \u201cWith housing destabilized, multi-family housing is in significant demand,\u201d Jon Vaccaro, head of real estate at Ranieri Partners and founder of Ranieri Real Estate Partners, told Commercial Property Executive<\/em>. \u201cCurrently, it\u2019s the fastest-recovering asset class in commercial real estate.\u201d<\/p>\n

James Lockhart III, vice chairman of WL Ross and former director of the Federal Housing Finance Agency, noted that Berkeley Point did more than $3 billion in multi-family originations last year alone.<\/p>\n

Berkeley Point originates multi-family loans for Fannie Mae, Freddie Mac and the Federal Housing Administration and services a $29 billion multi-family loan portfolio. It\u2019s the second-largest originator of Fannie Mae loans and a participant in Fannie Mae\u2019s Delegated Underwriting and Servicing program, which accounts for about half of Berkeley Point\u2019s lending.<\/p>\n

The company has 175 employees and operates out of three primary offices: Bethesda, Md.; Boston; and Irvine, Calif., with additional offices in Dallas, Los Angeles, Nashville and Seattle.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ranieri Real Estate Partners L.P. and private equity funds affiliated with WL Ross & Co. L.L.C. have completed their acquisition of Deutsche Bank Berkshire Mortgage, formerly a subsidiary of Deutsche Bank.<\/p>\n","protected":false},"author":882,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742],"tags":[],"class_list":["post-1004039795","post","type-post","status-publish","format-standard","hentry","category-finance","category-latest"],"acf":[],"yoast_head":"\nRanieri, Ross Complete Acquisition of Renamed Deutsche Bank Berkshire Mortgage - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ranieri-ross-complete-acquisition-of-renamed-deutsche-bank-berkshire-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ranieri, Ross Complete Acquisition of Renamed Deutsche Bank Berkshire Mortgage\" \/>\n<meta property=\"og:description\" content=\"Ranieri Real Estate Partners L.P. and private equity funds affiliated with WL Ross & Co. 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