Freddie Mac has appointed Arbor Commercial Mortgage as its latest seniors housing lender, the Uniondale, N.Y.-based mortgage company said Monday.
By becoming one of the 15 Freddie Mac seniors housing lenders, Arbor can now provide more financing for independent and assisted living facilities, including seniors properties with nursing or memory care components. The mortgage company recently closed its first deal with this new distinction, providing $12.1 million to Cambridge Court Assisted Living in Mesquite, Texas, for refinancing.
Arbor has also received its Fannie Mae Seniors Housing DUS license, joining its FHA and bridge seniors housing and health care offerings. Arbor had previously received approval for the Freddie Mac Program Plus Seller/Servicer and Freddie Mac Small Balance Loan.
"We are pleased to be able to partner once again with Freddie Mac, and this time as its newest seniors housing lender," said Ivan Kaufman, Arbor's chairman and chief executive, in an Aug. 10 news release.
"With this loan product, we have significantly elevated our growing Seniors Housing and Healthcare Financing group and established it as one of the leading and most comprehensive sources for financing in the industry."
