NEW YORK CITY—Ranieri Real Estate Partners LP, a real estateservices company, and private equity funds affiliated with WL Ross & Co. LLC Completed the acquisition of Deutsche Bank Berkshire Mortgage, formerly a subsidiary of Deutsche Bank.
Effective immediately, the company has been renamed Berkeley Point Capital. Jeffrey C. Day, who served as CEO of DBBM and is an 11-year- veteran with the company, will serve as CEO of Berkeley Point.
Berkeley Point originates multifamily loans for Fannie Mae, Freddie Mac and the Federal Housing Administration. It is the second largest originator of Fannie Mae loans and services a $29 billion multi-family loan portfolio. Founded in 1988, Berkeley Point has 175 employees and operates out of three primary offices: Bethesda, Boston and Irvine, and has additional offices in, Los Angeles, Nashville and Seattle.
James B. Lockhart III, vice chairman of WL Ross and former director of FHFA, added, “Berkeley Point did over $3 billion in multi-family originations last year. We look forward to working with Jeff and his team in this critical part of our nation's housing market.”