Sabal Capital Partners Closes Largest Portfolio in History of Freddie Mac Small Balance Loan Program

NEWPORT BEACH, Calif., Jan. 23, 2019 (GLOBE NEWSWIRE) -- Sabal Capital Partners, LLC, a diversified financial services firm specializing in real estate, lending and investing, today announced the firm has closed the largest portfolio by loan balance in the history of Freddie Mac’s Small Balance Loan (SBL) Program. The $189 million portfolio encompasses 39 small balance debt transactions for properties located in East Harlem, New York, and showcases Sabal’s ability to close complex loan portfolios.   

“A transaction of this magnitude uniquely leverages Sabal’s expertise as a leader in large portfolio transactions,” said Pat Jackson, CEO of Sabal Capital Partners. “We have engineered precision, efficiency and speed into our loan process and that has allowed us to set this, and prior, Freddie Mac records.”

The portfolio comprises both traditional multifamily as well as mixed-use assets with a dominant multifamily component. The total number of apartment units included in the group of transactions is 880, all located in East Harlem. All the properties provide low income renters in the region with affordable housing – a category of real estate that is sparsely available yet peaking in demand – especially within major metropolitan regions like New York. It is expected that approximately 52 percent of the units within the portfolio will also be enhanced with renovations.

“Demand for affordable housing among lower income renters is strong in East Harlem and the refinance of these properties will help ensure some of that demand is met,” said Isaac Kassirer, president of Emerald Equity Group. “Having worked with the teams at Sabal Capital Partners and Freddie Mac on this portfolio and prior notable transactions representing a large number of workforce housing properties in the New York region, we can say with confidence their process is the best in the industry.”

Emerald Equity Group is known for its work in metropolitan New York sourcing and leading large property portfolio transactions.

Sabal Capital Partners was one of Freddie Mac’s first lender partners in the agency’s Small Balance Loan program. The SBL program offers financing for qualifying multifamily properties with loans ranging in value from $1 million to $7.5 million.

“I couldn’t be prouder of the work our team put into the East Harlem portfolio, which is now the largest transaction, by loan balance, in the history of our Small Balance Loan Program,” said Steve Johnson, vice president of Freddie Mac Multifamily’s Small Balance Loan business. “It’s incredibly rewarding to work with a highly experienced partner like Sabal when it comes to large and complex executions like this. We’ve developed an outstanding team and together we’ve successfully met the affordable financing needs of borrowers nationwide.”

Jack Miller, founder and principal of Platinum Capital Group, assisted in securing the debt financing for the portfolio transaction.

About SNAP™
SNAP™ Servicing portal provides companies with a web-based, security-controlled interface where parties can review and track loan servicing, request disbursements, flag and monitor inspections, and create an electronic history for a loan. Designed with the unique needs of the servicing business in mind, SNAP™ increases the speed with which disbursement requests are fulfilled and minimizes traditional paperwork by capturing all pertinent information online.

About Sabal Capital Partners
Headquartered in Irvine, California, Sabal Capital Partners, LLC and its commercial real estate lending and servicing subsidiaries and affiliates are focused in the small balance lending space and have originated nearly $4 billion nationally through their highly specialized wholesale lending platform. Sabal’s dedication to advancing the financial services industry has led to the development of SNAP™, an innovative platform designed for Sabal’s exclusive network of brokers and bank partners to enable increased revenue, exceptional borrower satisfaction and reduced effort navigating small balance loans, from origination to close. Sabal strives to keep clients and investors ahead of the curve, representing a corporate philosophy based upon the core practices of innovation, partnership, commitment to excellence and entrepreneurship. For more information about Sabal, visit www.sabalcap.com.