FREDDIE MAC PURCHASE ENABLES FINANCING OF 11 SENIOR ASSISTED LIVING PROPERTIES

1500 Units Financed Across The U.S.

McLean, VA – Freddie Mac announced that it recently purchased mortgages totaling $250 million from CBRE | Melody for repeat borrower Belmont Corp. Freddie Mac's participation enabled the financing of 11 seniors assisted living properties comprising 1,500 units in Los Angeles and San Jose, CA; Chicago, IL; and Louisville, KY.

"Our Early Rate-Lock delivery option was selected, along with a seven-plus-one, fixed-rate, 25-year amortizing loan with one year of interest only," said Mitchell Kiffe, Multifamily vice president of Flow Sourcing. "Some of the properties had not yet reached stabilization, but the pool crossing of the properties, credit support from the sponsor, and the 35 percent equity going in to the acquisition of the properties gave us comfort to do this transaction in very good markets with a high-quality operator."

"Freddie Mac provided an exceptional level of finance for the assets," said Paul House, senior director, CBRE | Melody. "The borrower was thrilled with both the pricing and structure we offered thanks to Freddie Mac."

Since the introduction of the Freddie Mac Program Plus network of multifamily loan originators and servicers in 1993, Freddie Mac has provided financing for over 40,000 multifamily properties totaling more than $100 billion.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters.

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