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Article: Deutsche Bank Plunging Into Multifamily with Deal.(purchases Berkshire Mortgage Finance LP)(Industry Overview)
- Article from:
- American Banker
- Article date:
- August 17, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Deutsche Bank AG is the latest big banking company to signal that it considers a major presence in the agency multifamily sector necessary to be a leader in commercial real estate finance.
The German banking giant said Monday that it had agreed to buy Berkshire Mortgage Finance LP, one of the largest agency multifamily lenders and one of the few still privately held.
Deutsche did not say how much it would pay for the Boston outfit. The deal is expected to close by yearend. Berkshire originated $3.5 billion of loans last year, mostly for Fannie Mae, Freddie Mac, and the Federal Housing Administration. It services more than $18 billion.
Berkshire ...