Company News: Page (1) of 1 - 12/22/09 Email this story to a friend. email article Print this page (Article printing at page facebook

Associated Estates Announces a $100 Million Credit Facility Commitment From Freddie Mac

(December 22, 2009)

CLEVELAND, Dec. 22, 2009 (GLOBE NEWSWIRE) -- Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq:AEC) announced today that it has entered into a credit facility agreement ("Facility") with Wells Fargo Multifamily Capital, on behalf of the Federal Home Loan Mortgage Corporation ("Freddie Mac"). Pursuant to the terms of the Facility, the Company has the potential to borrow up to $100 million over a two-year period with obligations being secured by nonrecourse, non cross-collateralized fixed or variable rate mortgages having terms of five, seven or ten years.

"This new Facility further enhances our financial flexibility," said Lou Fatica, Vice President and Chief Financial Officer.

Associated Estates is a real estate investment trust ("REIT") and is a member of the Russell 2000. The Company is headquartered in Richmond Heights, Ohio. Associated Estates' portfolio consists of 49 properties containing 12,366 units located in eight states. For more information about the Company, please visit its website at

The Associated Estates Realty Corporation logo is available at

CONTACT: Associated Estates Realty Corporation
Media Contact:
Kimberly Kanary
(216) 797-8718
Investor Contact:
Swarup Katuri
(216) 797-8743

Page: 1

Related Keywords: REAL ESTATE, BANKINGMac, OS9, OSX, Financial, Business,

Content-type: text/html  Rss  Add to Google Reader or
Homepage    Add to My AOL  Add to Excite MIX  Subscribe in
NewsGator Online 
Real-Time - what users are saying - Right Now!

Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved