Senior housing in the Houston area received a $40 million influx of capital recently from Freddie Mac, Washington, D.C., and MITCHELL MORTGAGE COMPANY, Houston, in the form of mortgage loans on three properties. Freddie Mac, one of the largest investors in multifamily mortgages today, and Mitchell Mortgage, a member of Freddie Mac's Program Plus network, refinanced three local senior citizen communities, Terrace at Memorial City for $22.5 million; Terrace at Willowbrook for $10 million; and Spring Shadows Place for $7.6 million. Combined, the three properties provide more than 1,325 units of high-quality seniors housing.
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|Date:||Mar 1, 1999|
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