DBBM closes $36m loan.

Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/^[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank Berkshire Mortgage (DBBM) recently provided a $36 million loan to finance The Glen at Shawmont Station, a 202-unit garden-style apartment community in Philadelphia, PA.

The financing was structured as a one year, LIBOR-based, interest only bridge loan with a one year option to extend.

Upon stabilization of the property, the borrower has the option to select among all of DBBM's permanent financing Permanent financing

Long-term financing using either debt or equity.

permanent financing

The long-term financing that supports a long-term asset. options, including DBMF+, Fannie Mac. Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. , FHA See Federal Housing Administration.

FHA

See Federal Housing Administration (FHA). or conduit executions.

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Publication:	Real Estate Weekly
Date:	Mar 14, 2007
Words:	75
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