WASHINGTON, DC- Fort Lincoln Realty Co. secured very aggressive refinancing from Freddie Mac for two properties--Fort Lincoln Senior Village I and Fort Lincoln Senior Village II--in northeast Washington, DC. The 10-year fixed rate loans have 10 years of interest only, and 9.5 years of yield maintenance. Beech Street Capital helped the company arrange the financing.

"This deal priced well below our initial expectations," Adam Bieber, assistant vice president of Beech Street, who originated the transaction. He said that ten lenders made very aggressive bids for the project, but Freddie Mac gave the best offer.

Juan H. Gaddis, executive vice president, Fort Lincoln Realty Co., also was pleasantly surprised by how low the GSE was able to go. The loans, he said in a prepared statement "actually exceeded our financing goals."

Gaddis said the refinancing will be used to better manage its debt and to reinvest in the properties. Constructed in 1977 and 1978 the 363-unit portfolio--recently underwent capital improvements.

The aggressive of Freddie Mac in this transaction is no surprise. It, along with sister company Fannie Mae, has been flourishing despite the conservatorship status and the 10% scale back in multifamily lending they were directed to take at the beginning of the year. Freddie Mac issued a record $28 billion in multifamily securities via 19 K-Deals this year, up from $21.2 billion and 17 K-Deals in 2012. It also grew private investor base to more than 140 domestic and international investors.