Freddie Mac Conventional Student Housing Mortgage Loan

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Financing for the acquisition or refinance of purpose-built student housing. May consider shorter student lease terms and combined student body of multiple schools to meet eligibility requirements.

Eligible Properties

  • Purpose-built student housing properties; must have a minimum of one bathroom for every two bedrooms, and each apartment must have a separate full kitchen
  • Stabilized garden, mid-rise, and high-rise apartment properties that are greater than 50% occupied by student tenants
  • Supporting college/university has 8,000 or more students; student housing properties located within close proximity to multiple schools that have a combined student body of 8,000 students or more will be considered
  • Property is located less than two miles from college/university or on a public transportation route

Residence halls or other multiple occupancy rooms with a shared common bathroom and centralized food service areas or dining halls

Ground Lease
Ground lease for land owned by a college or university may be permitted with prior approval

Lease Parameters
Individual tenant lease by the apartment, bedroom, or by the bed. Rent under a master lease may be permitted with prior approval.

Lease Terms
12 month lease is preferred, although a shorter lease (of nine months or more) will be considered

Lease Guaranty
Parental guaranty is preferred

Loan Amount
Generally $5 to $100 million (larger and smaller loans will be considered)

Loan Term
5-10 years (up to 30 years for fixed-rate loans if loan is not purchased for securitization)

Max Amortization
30 years