• Company Profile
• Media Room
  • Corporate Facts
  • Executive Perspectives
  • Speeches and Statements
  • Economic and Housing Research
  • Industry Reports and Publications
  • Primary Mortgage Market Survey®
  • News Release Archives
• Investor Relations
• Careers

Freddie Mac Purchases a $46.8 Million Loan From PNC ARCS for N.Y. Seniors Housing Property

McLean, VA – Freddie Mac (NYSE: FRE) recently purchased a $46.8 million loan from PNC ARCS allowing an affiliate of Lazard Senior Housing Partners to refinance the Atria Rye Brook independent living senior housing community in Westchester County N.Y.

News Facts

• Atria Rye Brook is a 168-unit seniors living facility with studio, one- and two-bedroom garden style apartments.
• The property was built in 2004 in Rye Brook, N.Y. in Westchester County and is managed by Atria Senior Living Group. The property features a beauty parlor, fitness center, activity rooms, dining rooms, lounge and five elevators.
• The transaction benefited from the Freddie Mac Seniors Housing Mortgage.
• Lazard Senior Housing Partners is an affiliate of Lazard Alternative Investments, a privately held investment management business.

Quotes           

Attribute to Holli Leon, executive vice president for PNC ARCS
“Freddie Mac met all our timeframes while delivering loan terms and proceeds as promised. The transaction was complex, yet Freddie Mac quickly worked to ensure a successful closing. Freddie Mac’s understanding of the seniors housing sector was the key to success in capturing this business. PNC ARCS and the borrower were pleased with the execution.”

Attribute to Mitch Kiffe, vice president of production and sales for Freddie Mac
“We were pleased that we could help get this property funded and do business with high quality companies like Lazard Real Estate Partners and Atria Senior Living Group.”

Attribute to John Moore, Managing Principal of Lazard Real Estate Partners
“We were pleased with the execution of this loan transaction by Freddie Mac and PNC ARCS.  The transaction was complex and Freddie Mac and PNC ARCS were responsive to all needs to ensure a successful closing.”

Related Links

• Atria Rye Brook
• PNC ARCS
• Lazard Senior Housing Partners
• Freddie Mac Multifamily news releases

Since the launch of Freddie Mac's multifamily business in 1993, it has provided more than $214 billion in financing for approximately 56,000 multifamily properties. Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

###