Ranieri, WL Ross Team Up To Buy Deutsche Bank Unit

Law360, New York (September 26, 2011, 5:38 PM EDT) -- Mortgage bond expert Lewis Ranieri's Ranieri Real Estate Partners LLP and billionaire investor Wilbur Ross's WL Ross & Co. said Monday they were partnering to purchase Deutsche Bank Berkshire Mortgage, which specializes in apartment building loans.

Ranieri Real Estate and private equity funds affiliated with WL Ross & Co. said they will pay an undisclosed sum for Deutsche Bank AG's mortgage unit, which originates loans for Fannie Mae, Freddie Mac and the Federal Housing Administration.

The investors made the deal on the hunch that the U.S.'s slumping housing market will continue to make renting...
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