Berkadia Secures $509M for 12-State, 4,800 Single-Family Rental Pool

Front Yard Residential secured $508.7 million in financing for a single-family rental pool totaling 4,813 rental units across 12 states. Berkadia’s Anthony Cinquini secured the financing through Freddie Mac on behalf of the U.S. Virgin Islands-based borrower. The 10-year permanent financing was sized using a 69% loan-to-value ratio and a 30-year amortization schedule.

Cinquini says, “Though we’ve closed five single-family rental financings with Freddie Mac’s Affordable Single-Family Rental (SFR) Pilot Program totaling over $100 million to date, this is a significant accomplishment for Berkadia and Freddie Mac.”

The pool is comprised of 4,636 single-family homes, 96 townhomes, 34 duplexes, 3 triplexes and one quadplex. More than 78% of the units financed have rents that are considered affordable for families earning at or below 80% of the area median income (AMI), and 93% of the units are affordable for families earning at or below 100% AMI.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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