Freddie Mac Gains New Seniors Housing Borrower With Purchase of $133 Million Pool of Loans
|Location:||12 Seniors Housing properties in seven states.|
|Loan/Deal Type:||Seniors Housing Mortgage|
|Number of Units:||1,531|
|Loan Amount:||$133 million|
Freddie Mac recently purchased a $133 million pool of loans from KeyBank Real Estate Capital Markets (Key) that encompasses 12 seniors housing properties owned by Health Care REIT (HCN), a new Freddie Mac borrower. HCN joins several other major seniors housing leaders who are Freddie Mac borrowers, including Emeritus Senior Living, Brookdale Senior Living and Ventas, Inc.
Leveraging the Freddie Mac Seniors Housing Mortgage product, the loans are secured by 12 properties located in California, Georgia, Washington, Arizona, Nevada, Florida and Texas. They include a wide array of care levels, including independent living, assisted living, and dementia care.
"We are looking forward to doing more business with the Freddie Mac Seniors Housing team."
KeyBank Real Estate Capital Markets managing director
"Both KeyBank Real Estate Capital and our client, HCN, were very pleased with Freddie Mac’s execution on this complex, multi-state transaction that included operating leases," says Dave Shillington, KeyBank Real Estate Capital Markets managing director. "Working in concert with the Key team, Freddie Mac was able to meet the borrower’s tight time frame and rate-lock this 12-property portfolio in 60 days. We are looking forward to doing more business with the Freddie Mac Seniors Housing team."
Freddie Mac’s dedicated professional seniors housing staff, our understanding of the seniors housing industry, and the Freddie Mac Seniors Housing Mortgage product serve a growing segment of rental housing dedicated exclusively to America's aging population. We offer flexible loan terms from 5 to 25 years, and multiple financing options for a variety of seniors housing property types, including seniors apartments, independent living properties, assisted living properties, and properties with a limited amount of skilled nursing or dementia care (properties may include up to 20 percent set-aside for skilled nursing).
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