NorthMarq Capital has arranged a $98.353 million tax-exempt bond securitization (TEBS) for a national bond portfolio owned by TCH I Depositor.
The portfolio is secured by 11 multifamily properties in 11 markets containing a combined total of 2,210 units. This transaction was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac.
“Freddie Mac’s TEBS program is an outstanding way for tax-exempt bond managers to leverage their portfolio," said John Reed, senior vice president and senior director of NorthMarq's Omaha Regional office.
NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. The company provides mortgage banking and commercial loan servicing in 32 offices coast-to-coast, with an average of $7 billion in annual production volume and services a loan portfolio of nearly $40 billion.
TCH I Depositor is an affiliate of Horsham, PA-based Capmark Financial Group, according to regulatory filings, and is owned by Tax Credit Holdings I.