Redbrick, David Werner Finance Apt. Deal With $402M Loan

Law360, New York (April 29, 2015, 10:29 PM EDT) -- Real estate investment management firms Redbrick LMD and David Werner Real Estate Investments have acquired 2,175 apartment units from Brookfield Asset Management Inc. in a $402 million deal, the two companies announced today.

Acquisition of the garden-style apartments, a mix of one-, two- and three-bedroom units located in Fairfax County, Virginia, advances Redbrick's quest to finance large-scale projects, with the $402 million to be financed by a 10-year term senior loan from Fannie Mae, secured by Maryland-based commercial real estate finance company Walker & Dunlop.

Redbrick, David Werner and the Stillman Group will provide equity financing for the deal, along with...

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