DDBM completes $313m JBG loan.Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank Berkshire Mortgage (DBBM) recently provided JBG JBG James Bond Girl (Alizée song) JBG Jadgbombergeschwader (FRG) $ 313 million to finance the acquisition of eight properties outside of Washington, D.C., Alexandria and Fairfax Virginia. JBG's financing for the project includes twelve cross-collateralized, cross-defaulted loans totaling $313 million that were originated, underwritten and closed in DBBM"S Bethesda office. The loans, which include both fixed and variable rate components, were purchased by and assigned to Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. . The properties total 3,022 apartment units and 63,320 square feet of retail space. Locations include Fairway Apartments in Reston, VA and at Willow Run Located between Ypsilanti and Belleville, Michigan, the Willow Run Plant was constructed during World War II by Ford Motor Company for production of the B-24 Liberator aircraft. , Brookdale, Hillwood, Lynbrook, Meadow Creek, Stone Ridge and shops at Mark Center in Alexandria, VA. Deutsche Bank Berkshire Mortgage (DBBM) also recently provided $7.5 million for the refinance of Ocean Air Apartments, a 65-unit, garden-style apartment complex in Huntington Beach Huntington Beach, city (1990 pop. 181,519), Orange co., S Calif., on the Pacific coast, across from Santa Catalina Island, in an oil-producing area; inc. 1909. It manufactures aerospace vehicles, aircraft parts, optical instruments, and heat transfer equipment. , Cal. The loan was structured to be a 10-year interest only financing and was funded to 65 percent of value. |
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