Freddie Mac option debuts
A California long-term care provider has become the first to obtain financing through a new revolving credit facility offered by Freddie Mac.
Investment group Greystone closed the $150 million facility on behalf of Oakmont Senior Living in Chino Hills.
Freddie Mac, a government-sponsored entity, has provided this type of facility for multifamily housing, but this marks its debut in senior housing, the finance company noted.
The facility's advantages for borrowers include no minimum occupancy requirements, company officials said.