A commercial mortgage securitization was issued for more than $300 million.
Impact Funding Affordable Multifamily Housing Mortgage Loan Trust 2010-1 was announced today by Impact Funding LLC.
The San Francisco-based company said the $302 million transaction is backed by 176 affordable multifamily mortgage loans. California properties account for 100 of the properties securing the loans.
The initial purchaser, sole manager and bookrunner for the transaction is Barclays Capital Inc, while the master and special servicer is Pacific Life Insurance Co. is and the trustee is Wells Fargo Bank, N.A.
The only two other transactions sponsored by Impact Funding parent Impact Community Capital LLC were two deals issued in 2000 and 2001.
“Impact Community Capital LLC’s investments and investment commitments currently exceed $1 billion,” the statement said.
