CBRE is Fastest Freddie Mac SBL Originator to Reach Milestone
CBRE Capital Markets has closed and sold its 843rd Freddie Mac Multifamily Small Balance Loan (SBL), bringing the firm's total origination volume for the program to more than $2 billion.
This milestone was achieved in just 31 months—the shortest amount of time to reach the $2 billion mark of any Freddie Mac authorized SBL seller. CBRE is on a rapid growth trajectory in the small balance market and has originated more than $1 billion in SBL loans in the past 10 months alone. These loans, designed for multifamily properties with five units or more, range in size from $1 million to $7.5 million each.
“In a relatively short period of time, CBRE has built a Small Balance Loan platform that has established the firm as an industry leader,” said David Brickman, executive vice president and head of Freddie Mac Multifamily. “The ability to hit the $2 billion mark in such a short period of time is a testament to the quality of the CBRE team, its commitment to speed and efficiency, and the strength of our partnership. We congratulate CBRE on this milestone and look forward to working together closely in the future.”
“Reaching the $2 billion milestone in just 31 months represents a successful beginning. We anticipate continued growth in the coming years of 25–30% annually and have plans to expand our production team to meet our customer needs,” said Dan Winzeler, managing director, Capital Markets, CBRE. “As the Freddie Mac SBL program continues to take market share, we are increasing our nationwide direct-lending efforts. With the help of our outstanding underwriting and closing teams, we will continue to deliver the most exceptional outcomes for our clients.”
CBRE was named the nation’s largest producer of Freddie Mac loans—for the eighth consecutive year—closing more than $10 billion of Freddie Mac Loans in 2016. With specialized debt professionals in every major market, CBRE Capital Markets’ Debt & Structured Finance practice provided more than $24 billion in apartment financing across the United States in 2016.
“Our experienced agency lending platform and longstanding relationship with Freddie Mac, provided us a unique opportunity to enter the small balance market and quickly establish ourselves. We couldn’t be more pleased with the success of our SBL program,” said Brian Stoffers, global president, Debt & Structured Finance, Capital Markets, CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
