German real estate company Gagfah has taken its total commercial mortgage-backed securities funding for the year to almost EUR4 billion ($5.4 billion) by refinancing another EUR700 million ($946.6 million) of outstanding multifamily housing loans through a CMBS that was placed with a large club of investors.

The transaction, GRF 2013-2, will refinance three multi-family housing loans in Gagfah’s NILEG portfolio. These are the EUR367.8 million ($497.3 million) WGN loan, the EUR350.2 million ($473.59 million) WBN loan and the EUR172.1 million ($232.76 million) NILEG resi loan. ....

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