According to a special report on lending in the March 23, 2010 issue of The Commercial Observer, Blank Rome’s real estate practice handled four of the top 30 financing and refinancing deals from October 1, 2009 through March 8, 2010.

Named the top financing transaction for the period, Blank Rome represented Wells Fargo Bank as lender in a $531 million loan to refinance Starrett City Apartments, a 5,881-unit housing complex in Brooklyn, New York and the largest publicly assisted affordable housing complex in the nation.  The Blank Rome team included Carol M. Joseph, David Brier, Dayna C. Finkelstein, Peter J. Liuzzo, Regina M. Colantonio, Maria R. McKinney, and paralegals Irina Kebreau and Saudi Z. Gonzalez.

The group represented Wachovia Multifamily Capital, Inc. in the $121.4 million loan originated by Wachovia Multifamily Capital, Inc. and sold to Federal Home Loan Mortgage Corporation under its Capital Markets Execution (CME) Program for a property called the Chelsea (200-220 West 26th Street).  The Wachovia loan refinanced the existing bond financing which was put in place to finance the construction of the multifamily property.  This transaction was ranked 18^th out of the top 30 for this period.  The Blank Rome team included Deborah A. Franzblau, David Brier and paralegal Irina Kebreau.

Blank Rome’s real estate group also handled the 27^th deal, a financing of Lexington Courts, a multi-property site which was financed for $25.5 million with the proceeds of the sale of bonds issued by the New York City Housing Development Corporation.  Federal Home Loan Mortgage Corporation provided credit enhancement and liquidity support for the bonds and the project was awarded an allocation of low income housing tax credits.  The Blank Rome team included Deborah A. Franzblau, Peter Liuzzo, and paralegals Irina Kebreau and Sheila O. Ortiz.

Blank Rome’s representation of Wachovia Multifamily Capital, Inc. in the financing of Courtney House Apartments was named the 29^th deal.  The transaction included a loan in the amount of $25.8 million originated by Wachovia Multifamily Capital, Inc. and sold to Federal Home Loan Mortgage Corporation.  The Blank Rome team included Carol M. Joseph, Peter Liuzzo and paralegals Irina Kebreau and Mariana Fradman.