Freddie Mac Plays a "Key" Role for One of the Nation's Largest Assisted Living Providers
|Location:||19 Seniors Housing properties in 11 states|
|Loan/Deal Type:||Seniors Housing Mortgage|
|Number of Units:||1,563|
|Loan Amount:||$163.2 million|
"Both KeyBank and our client, Emeritus, were very pleased with Freddie Mac's execution on this complicated multi-state transaction. More specifically, Freddie Mac's Seniors Housing group did an excellent job."
KeyBank director, Agency Lending
Freddie Mac recently purchased from KeyBank a $163.2 million pool of mortgages secured by 19 properties with a total of 1,563 assisted living units in 11 states. The repeat borrower, Emeritus — one of the nation's largest and most experienced operators of freestanding assisted living communities — owns, leases, and/or manages 287 properties in 37 states.
"Both KeyBank and our client, Emeritus, were very pleased with Freddie Mac's execution on this complicated multi-state transaction. More specifically, Freddie Mac's Senior Housing group did an excellent job. Working in concert with the underwriting team at KeyBank, Freddie Mac was able to meet the borrower's tight time frame and close this 19-property portfolio in less than 60 days," says Dave Shillington, KeyBank managing director. "We are looking forward to more successful transactions of this kind with the Freddie Mac Senior Housing team."
This transaction benefited from the Freddie Mac Seniors Housing Mortgage and the Freddie Mac Fixed-to-Float and Standard Delivery options. The Freddie Mac Seniors Housing Mortgage, coupled with our understanding of the seniors housing industry and dedicated professional staff, helps Freddie Mac serve the growing segment of rental housing dedicated exclusively to America's aging population. Through our Seniors Housing Mortgage, we offer flexible loan terms for property types that include independent living, assisted living, and assisted living with dementia care.
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