CB Richard Ellis refinances $166.7 million apartment portfolio
CB Richard Ellis Group (CBG) refinanced of a multifamily portfolio worth $166.7 million, the firm said Tuesday. Boston-based Eaton Vance Management managed the fund that facilitated the refinance. The CBRE portfolio consists of seven apartment communities and more than 2,100 units. The properties are located in Phoenix, Houston, Atlanta, Riverside, Calif.; and the Florida communities of Pembroke Pines, Altamonte Springs, and Boynton Beach. The seven loans were underwritten individually. Each loan is a 10-year, fixed-rate loan, originated through Freddie Mac's Capital Markets Execution program. The program is designed to offer lenders a fixed-rate product at Freddie Mac's lowest price. CB Richard Ellis Group is an international commercial real estate services firm based in Los Angeles. Eaton Vance Management is a wholly owned subsidiary of Eaton Vance Corp., a real estate investment management firm. As of Oct. 31, the firm managed $182.5 billion worth of assets. Write to Christine Ricciardi. Disclosure: The author holds no relevant investments.