Ranieri Real Estate Partners LP, a real estate financial services company, and private equity funds affiliated with WL Ross & Co. LLC have completed of the acquisition of Deutsche Bank Berkshire Mortgage, formerly a subsidiary of Deutsche Bank, for an undisclosed amount.
The company has been renamed Berkeley Point Capital, and Jeffrey C. Day, who served as CEO of the previous entity, will be CEO of Berkeley Point.
Berkeley Point originates multifamily loans for Fannie Mae, Freddie Mac and the Federal Housing Administration, doing over $3 billion in multifamily originations last year.
