FREDDIE MAC ANNOUNCES COMPLETION OF LARGEST STUDENT HOUSING TRANSACTION TO DATE

Portfolio Consists of 10 Properties Across US

McLean, VA – Freddie Mac announces the completion of its largest student housing transaction through the purchase of a $154 million fixed-rate, cross-collateralized pool of mortgages from Deutsche Bank Berkshire Mortgage. The transaction enabled the borrower, Campus Apartments, to acquire 10 student housing properties across the U.S.

The portfolio consists of a mix of properties originally built as student housing and traditional garden-style apartments primarily for students at mid- to large-sized universities. The 10 properties comprise 1,799 units and 4,605 bedrooms, which are located at six universities. Those universities are University of California in Riverside, CA; University of Arizona in Tucson, AZ; Louisiana State University, Baton Rouge, LA; Southern University, Baton Rouge, LA; University of Central Florida in Orlando; and North Carolina State University, Raleigh, NC.

"The Campus Apartments portfolio is our first large-scale entrance into the student housing market," said Mitchell Kiffe, Freddie Mac vice president of Production and Sales. "We were very pleased to provide this financing package to enable Campus Apartments to acquire this quality portfolio. We hope this is the first of many student housing deals as we expand our student housing lending activities."

"This transaction was extremely complex, had assets in multiple regions, and had a very short timeframe to close," said James Wogan, Deutsche Bank Berkshire Mortgage vice president. "Freddie Mac executed seamlessly. Executions like this show how Freddie Mac wins and retains new clients."

Everything went off without a hitch with Freddie Mac delivering on everything it said it would. It was great to work with them," said David Adelman, Campus Apartments president and chief executive officer.

Since the launching of Freddie Mac's current multifamily business in 1993, Freddie Mac has purchased more than $165 billion in multifamily mortgages, financing rental housing for more than four million families.

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