By a News Reporter-Staff News Editor at Investment Weekly News -- Ares Commercial Real Estate Corporation (NYSE: ACRE) announced that its wholly owned subsidiary, ACRE Capital LLC, has been approved as a Seller/Servicer with the Freddie Mac Program PlusŪ network for multifamily lenders. Freddie Mac's Program PlusŪ provides a full range of competitively priced, reliable mortgage products for the acquisition, refinancing or moderate rehabilitation of multifamily communities. For more than 20 years, Freddie Mac Multifamily has been among the largest providers of credit to owners of multifamily properties.
"The Freddie Mac program has been a valuable resource for multifamily borrowers for nearly a generation, and it has significantly contributed to the strength of the sector," said Ed Hurley, President of ACRE Capital LLC. "As a member of the Program PlusŪ platform, we look forward to bringing attractive financing products in a fast and flexible manner to our customers."
"The addition of ACRE Capital as a select Seller/Servicer for Freddie Mac is a very important milestone as we broaden our lending solutions to multifamily operators and sponsors," said Todd Schuster, President and Chief Executive Officer of ACRE. "This broadening of our product capabilities further expands our ability to leverage the sourcing and credit advantages that come from our national direct origination infrastructure. We are very appreciative for the opportunity to work with Freddie Mac and look forward to a strong future partnership."
Keywords for this news article include: Freddie Mac, Banking and Finance, Investment and Finance, Ares Commercial Real Estate Corporation.
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC