CWCapital Finances $130 Million Church Park

Continues to Experience Significant Growth in Agency Originations
BOSTON--(Business Wire)--
CWCapital LLC, a subsidiary of CW Financial Services and a full-service national
lender to the multifamily and healthcare real estate industries, today announced
that it has provided $130 million in financing for the refinance of Church Park,
a 508-unit mixed-use building located at 221 Massachusetts Avenue in Boston`s
Fine Arts and Culture District - an extension of the city`s highly desirable
Back Bay community.

The 10-year fixed-rate loan carrying a 5.51% interest rate was financed through
CWCapital`s Agency Lending Group and was originated by Andrew Gnazzo and Michael
Darling, Vice Presidents in the firm`s Boston office. The loan was executed
through Freddie Mac`s Capital Markets Execution (CME) program.

Church Park was developed in 1973 and is a 12-story community consisting of a
508-unit Class A apartment building, a six-story parking garage and 71,399
square feet of retail space on the ground level. The property, due to its
premier location, is approximately 99% leased and has exhibited strong
historical occupancy levels. Common area amenities at Church Park include a
penthouse community room with WiFi, rooftop terrace, on-site parking, 24-hour
security, full concierge services with doorman (24-hour), and Galleria shopping
with a Whole Foods Market on site.

CAS Financial Advisory Services (CAS FAS) in Boston advised the borrower on the
transaction which included a competitive bidding process. CWCapital and Freddie
Mac offered aggressive loan structuring and were ultimately awarded the deal
based on their ability to develop a creative financing solution that enabled the
borrower to meet their financial goals. This is the first transaction CWCapital
has executed with CAS FAS, and the borrower, Curtis R. Kemeny, CEO of Boston
Residential Group and a Principal of Church Park, stated he was "very pleased to
secure such favorable loan terms, particularly in light of these challenging
economic times."

Donald King, National Program Director for CWCapital`s Fannie Mae and Freddie
Mac platform stated, "From start to finish this transaction included numerous
complexities that required creativity, a strong working relationship with
Freddie Mac, and the expertise to structure a winning solution. It was a
collective effort between our business partners and members of the CWCapital
team that brought this loan to a successful close. We have executed under
Freddie Mac`s CME product several times and believe the terms and flexibility of
the program have been key in our ability to win some high-quality loans,
including this one, the largest Freddie Mac closing in the history of
CWCapital."

Andrew Gnazzo added, "The opportunity to finance properties such as Church Park
do not present themselves every day. We feel confident that this transaction
showcases the depth of our platform and are appreciative of the work CAS FAS did
to bring this opportunity to CWCapital, and for Freddie Mac`s support in helping
us through a very competitive bidding process."

Michael Berman, President and CEO of CWCapital, added that the firm continues to
see growth in its Agency originations because of the firm`s strong working
relationship with Fannie Mae, Freddie Mac and FHA, and the skill of its
origination, underwriting and closing teams. Berman offered that the firm has
recently had several large closings, including a $46 million acquisition deal in
Fairfax, VA and a portfolio of 5 acquisition deals in the South totaling over
$45 million. CWCapital`s total Agency and FHA originations are up approximately
30% over 2008 levels and the firm is on target to reach its goal of $1.7 billion
in 2009 and may reach $2 billion.

About CWCapital

CWCapital is a leading, national full-service lender to the multifamily and
commercial real estate industries offering Fannie Mae DUS, Freddie Mac and FHA
finance programs. A member of the CW Financial Services vertically integrated
family of companies, which also includes CWCapital Investments and CWCapital
Asset Management, CWCapital has closed approximately $10 billion in loans since
2005 and currently services approximately $11 billion of loans in 48 states.

CW Financial Services employs approximately 320 employees located in 12 offices
nationwide, and through CWCapital Investments and CWCapital Asset Management, is
the named special servicer on CMBS transactions backed by $174 billion of
multifamily and commercial loans representing approximately 14,000 mortgages.

Otéra Capital, a Montreal-based mortgage lender, holds a majority interest in CW
Financial Services. Otéra Capital offers a wide array of commercial real estate
debt services from origination and underwriting to asset management, along with
a sophisticated range of products extending from conventional mortgages to
structured products. Otéra is active in Canada, the United States and Europe and
is a subsidiary of the Caisse de dépôt et placement du Québec, one of the
leading institutional fund managers in Canada and the United States. For more
information, visit www.oteracapital.com.

CWCapital
Elizabeth Orcutt, 781-707-9334
Marketing Director
eorcutt@cwcapital.com

Copyright Business Wire 2009