Freddie Mac Names Comunidad Partners as Inaugural Impact Sponsor of the Year

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) selected Comunidad Partners as its inaugural Impact Sponsor of the Year for 2021. This award honors those enhancing affordable rental housing while advancing tenant interests. Comunidad, alongside Bellwether Capital, launched a $300 million Tenant Advancement Commitment in 2021 to ensure affordable rents for thousands of units and provide social services. The firm, which is 100% minority and women-owned, focuses on revitalizing affordable housing with an emphasis on cultural management and community investment.

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• Freddie Mac recognized Comunidad Partners for its innovative work in affordable housing and tenant advancement initiatives.
• The $300 million Tenant Advancement Commitment aims to maintain affordable rents and provide social services to residents.

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• None.

MCLEAN, Va., Feb. 01, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today named Comunidad Partners its inaugural Impact Sponsor of the Year for 2021. The newly created award recognizes Freddie Mac Multifamily borrowers that preserve or create affordable rental housing that includes unique initiatives to advance tenants’ interests.

“We are thrilled to announce that Comunidad Partners is our inaugural Impact Sponsor of the year,” said Lauren Garren, vice president of business management for Freddie Mac Multifamily. “It’s hard to overstate the pioneering work that Comunidad has undertaken to both address the affordable housing crisis while also developing unique programs that advance tenants’ interests. We applaud the work of Antonio Marquez and the entire Comunidad team, which has proved itself a leader. Freddie Mac is recognizing their efforts in the hope that it will encourage other operators to similarly innovate.”

In 2021, Comunidad Partners, working with Bellwether Capital, initiated a $300 million Tenant Advancement Commitment transaction with Freddie Mac, which included a commitment to maintain affordable rents for thousands of multifamily units. Comunidad also committed to providing social services to residents, which may include telehealth, concierge resource referral, resident council meetings, youth education services, health and wellness programs, and economic advancement opportunities.

“It is truly such an immense honor to have been selected as Freddie Mac’s inaugural Impact Sponsor of the year,” says Antonio Marquez, managing partner of Comunidad Partners. “Through our partnership with Freddie Mac, their commitment to capital that builds community and advances tenants was the driving force behind our firm’s ability to preserve affordable housing and tailor resident services that drive positive social outcomes to diverse residents throughout the Sunbelt. As stewards of capital and community, this was a natural fit as we bring much-needed, high-quality affordable housing with innovative social impact amenities to underserved communities throughout the United States.”

Comunidad is a 100% minority and women-owned real estate investment firm that specializes in workforce and affordable housing in culturally diverse neighborhoods. The company specializes in revitalizing affordable and workforce apartments in infill locations and implementing its specialized cultural management platform, which includes cultural upgrades, community investment initiatives, and ESG / social impact programs.

More information about Freddie Mac Multifamily’s Impact Sponsor Award is available online. Freddie Mac will open the nominations process for its 2022 award in the coming weeks.

Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than 90% of the eligible rental units we fund are affordable to families with low-to-moderate incomes earning up to 120% of area median income. Freddie Mac securitizes about 90% of the multifamily loans it purchases, thus transferring the majority of the expected credit risk from taxpayers to private investors.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.

Comunidad Partners is a dynamic, vertically-integrated real estate investment firm specializing in workforce and affordable housing in culturally diverse communities throughout the United States. The firm is proudly a 100% minority- and women-owned firm and heavily focuses its investments activities on positively impacting communities through its ESG practices and its corporate culture of diversity, equity, & inclusion. The firm has been a market leader in ESG for over a decade and received national recognition on its ESG practices from Fannie Mae, SAHF/CORES, and recently was named Freddie Mac’s Impact Sponsor of the Year. Core to its investment strategy is creating culturally-relevant, inclusive communities that are tailored to the specific needs and wants of the diverse residents living at the communities it serves. For more information, please visit: Home - Comunidad Partners.

MEDIA CONTACT: Mike Morosi
(703) 918-5851
Michael_Morosi@FreddieMac.com

 

FAQ

What is the significance of Freddie Mac's Impact Sponsor of the Year award?

Freddie Mac's Impact Sponsor of the Year award recognizes borrowers who enhance affordable rental housing and advance tenant interests.

Who was awarded the Impact Sponsor of the Year by Freddie Mac in 2021?

Comunidad Partners was named Freddie Mac's inaugural Impact Sponsor of the Year for 2021.

What was the amount of the Tenant Advancement Commitment initiated by Comunidad Partners?

The Tenant Advancement Commitment launched by Comunidad Partners amounted to $300 million.

How does Comunidad Partners contribute to affordable housing?

Comunidad Partners focuses on revitalizing affordable housing and providing social services to enhance tenant interests.