BIRMINGHAM, Ala. – Nov. 29, 2023 – Regions Bank on Wednesday announced its Real Estate Capital Markets division, a diversified multifamily and commercial real estate lender, arranged a $350 million Fannie Mae credit facility with Equity Residential to refinance a portfolio of five of Equity’s multifamily properties.
“Regions provides meaningful capital solutions to qualified multifamily borrowers in several of the nation’s largest markets,” said Kerri Raines, managing director of Regions Real Estate Capital Markets. “We take an in-depth, customized approach toward understanding the detailed goals of each client. This transaction is a strong example of how our teams translate those goals into tailored solutions designed to help our clients continue to grow and thrive.”
Financing was provided via Fannie Mae’s Credit Facility, a flexible financing tool that allows borrowers to manage debt across their entire multifamily portfolio. The fixed-rate financing was provided to Equity Residential on a 10-year term. The portfolio included in the Fannie Mae financing covers five properties with 1,623 units across several major residential markets in the country.
Regions provides meaningful capital solutions to qualified multifamily borrowers in several of the nation’s largest markets. Kerri Raines, managing director of Regions Real Estate Capital Markets
Regions Real Estate Capital Markets serves clients with a comprehensive suite of agency financing solutions, meeting a range of borrower needs. Solutions span agency options for acquisition, refinance, bridge, and construction financing. The group’s loan products serve borrowers and properties nationwide across all major multifamily real estate asset types.
Regions Real Estate Capital Markets’ lending operations are powered by SNAP™, a technology-driven platform that automates and enhances customer relations across the life-of-loan process, from loan origination through servicing. SNAP leverages tools including real-time commercial property financing scenarios, seamless online loan applications, and technology for tracking loan progress through deal closure, and supporting servicing.
Information on Regions Real Estate Capital Markets’ comprehensive multifamily and commercial real estate loan programs can be found in the Real Estate Capital Markets section of Regions.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $154 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Regions Real Estate Capital Markets Group
Regions Real Estate Capital Markets is a diversified commercial real estate lender that keeps borrowers and brokers ahead of the curve with comprehensive debt solutions encompassing agency options. SNAP®, the lender’s proprietary technology platform, supports origination and servicing while enhancing the customer experience. For more details, visit Commercial Real Estate Financing | Capital Markets | Regions Bank.