Deutsche Bank, Goldman Sachs Refi Multifamily Portfolio With $525M CMBS Loan

Global investment firm Iconiq Capital has secured $525 million of commercial mortgage-backed securities (CMBS) debt to refinance a six-asset multifamily portfolio spread out across the U.S. according to Bloomberg  data. 

Deutsche Bank (DB) and Goldman Sachs (GS) originated the five-year, fixed-rate, interest-only loan on the 1,790-unit portfolio, which spans 1.9 million square feet over five states. The loan will be securitized in the ICNQ 2024-MF CMBS deal, has a 64.7 percent loan-to-value ratio and is collateralized by rental apartment properties under the Sentral umbrella in Florida, Texas, Tennessee, Illinois and Colorado. 

Newmark (NMRK) arranged the transaction with a team led by Jonathan Firestone and Jordan Roeschlaub in collaboration with Blake Thompson, Bill Fishel and Nick Scribani, sources said. 

The portfolio includes Sentral Wynwood in Miami; Sentral at Austin 1614 in Austin, Texas; Sentral at Austin 163 in Austin; Sentral SoBro in Nashville; Sentral Michigan Avenue in Chicago; and Sentral Union Station in Denver. The properties combined were 92.2 percent occupied as of September 2024. 

Officials at Iconiq, Deutsche Bank and Newmark did not immediately return requests for comment. Goldman Sachs declined to comment. 

Andrew Coen can be reached at acoen@commercialobserver.com