Freddie Mac Multifamily issues $93 million social bonds backing affordable senior housing

The loans in the deal are originated by Berkadia Seniors Housing & Healthcare for properties owned by Christian Care – the largest provider of non-profit seniors housing and healthcare services in Arizona.

More than half the 1,500 units in the properties will be affordable to seniors with incomes at or below 50% of area median income. According to Freddie Mac’s framework, the proceeds of the social bonds are used either to provide liquidity to social impact financial institutions for funding affordable housing or to finance multifamily properties originated by the Freddie Mac Multifamily Optigo network. Moreover, institutions receiving liquidity and properties financed from social bonds proceeds are expected to provide other socioeconomic opportunities for residents and their communities.

“Freddie Mac is thrilled to provide financing that supports affordable housing for more than 1,500 Arizona seniors,” said Kathy Ryser, senior director of underwriting for Freddie Mac’s Multifamily seniors housing team. “This work aligns directly with our mission and helps meet a tremendous need in the market.”