WELLS FARGO FINANCES $543 MILLION LOAN FOR 19 APARTMENT COMPLEXES

SAN FRANCISCO — San Francisco-based Wells Fargo has closed $543 million in Fannie Mae secured credit facility for Equity Residential. The interest-only loan carries an 8-year term, with a fixed rate for 7 years; the last year is a floating rate. The loan is for 19 multifamily properties, totaling more than 5,200 units, throughout California, Colorado, Arizona, Florida, Massachusetts, Washington and Virginia. Phil Morse of Wells Fargo Multifamily Capital’s McLean, Va., office originated the transaction.