Freddie Mac says two loans went unpaid - now it wants a receiver running the facility
Freddie Mac wants a court-appointed receiver to take over an Oregon memory care facility after its borrower allegedly stopped paying two loans.
The government-sponsored enterprise filed the suit on August 4 in the US District Court for the District of Oregon. The defendant, Tigard Memory Associates, LLC, owns and operates a licensed memory care facility in Tigard, doing business as Washington Gardens Memory Care. According to the filing, the borrower has not made a payment since February 1, 2026, on either of two multifamily loans secured by the property.
The filing describes two loans. The first, dated August 30, 2013, was for $7,370,000 and was originated by Berkeley Point Capital LLC, which now services both loans under the name Newmark. The second, dated March 3, 2016, was for $3,135,000. Freddie Mac says it holds both notes and is the secured party on both deeds of trust.
Beyond the missed payments, the lawsuit alleges the borrower breached an operating covenant that limits how much of the facility can be tied to a Governmental Payor Program - no more than 25% of residents under the first loan agreement, or 25% of beds under the second. The suit also says the borrower failed to pay insurance premiums and utility bills for the property.
According to the filing, Freddie Mac issued a Notice of Default and Reservation of Rights on February 20, 2026, and a Default and Acceleration Letter on April 29, 2026. The lawsuit says the borrower did not cure the defaults within thirty days, which it describes as a further event of default. Freddie Mac says it then accelerated the loans, making the full balance due at once. The suit puts the amount owed at not less than $9,906,982.34 as of July 1, 2026, exclusive of amounts that continue to accrue.
The requested remedy sits at the center of the case. Freddie Mac is not only seeking a money judgment. It asks the court to appoint Trigild IVL, LLC as receiver to take possession of the property, collect the rents, and operate the facility while the case proceeds. The lender points to the loan documents, in which, it says, the borrower consented to the appointment of a receiver following a default. It also argues that the court's equitable powers support the appointment, citing the need to protect what the filing calls the property's "vulnerable resident population" at a licensed memory care facility.
The filing also addresses Freddie Mac's own status. The company has operated under Federal Housing Finance Agency conservatorship since 2008, and the suit says the FHFA supports the receiver appointment on the terms Freddie Mac has proposed. Along with the receivership, Freddie Mac asks the court to enforce the assignment of leases and rents - the provision that directs rent to the lender after a default - and to order an accounting and an injunction barring the borrower from moving funds or diverting rents.
The allegations have not been tested in court, and no judge has ruled on any of Freddie Mac's claims.
