FREDDIE MAC AND KEYBANK REAL ESTATE CAPITAL ANNOUNCE $6.9 MILLION FINANCING OF HIGHPOINT APARTMENTS

Acquisition Financing Arranged in Record Time

McLean, VA – Freddie Mac announced that, working with KeyBank Real Estate Capital, it provided $6.9 million in financing that enabled Dietz Property Group to acquire the newly constructed, 144-unit Highpoint Apartments in Bellefontaine, Ohio. The transaction included the Freddie Mac Early Rate-Lock Delivery option, which eliminates interest-rate and credit-spread risk early in the mortgage approval process, and a Freddie Mac Fixed-Rate Mortgage.

"We were able to execute a quick turnaround primarily due to our ability to delegate the inspection during a time of large volumes of business and fourth-quarter deadlines," said Richard Martinez, managing regional director of Freddie Mac's Central Region. "KeyBank's thorough delegated property inspection in conjunction with our familiarity with the borrower played a large role in exceeding the timing expectations."

"Dietz Property Group has a long, successful relationship with Key and with Freddie Mac," said Jon Reible, senior vice president, KeyBank Real Estate Capital. "When the need for financing came up for this acquisition deal outside of Columbus, with a relatively tight time frame to close, Freddie Mac was the client's first choice. As has been customary over the years with this relationship, Freddie Mac was able to deliver outstanding loan terms to the borrower, and meet all of the required time frames to allow this acquisition to close in a tough credit environment."

"I am impressed and pleased that we got this loan closed in the desired time frame. It was very important to me, for a variety of reasons, to get the loan closed and we got the job done with time to spare," said Brian Dietz, president of Dietz Property Group.

Since the launching of Freddie Mac's current multifamily business in 1993, Freddie Mac has purchased more than $189 billion in multifamily mortgages, financing rental housing for more than four million families.

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-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

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