McLEAN, VA-Freddie Mac is on a roll: the GSE has debuted its fourteenth Structured Pass-Through Certificate, or K-Certificate, for the year, this one for $1.2 billion. The GSE expects to price the K-Certificate on the week of October 15th and settle on or about November 8th.
This offering is very much a bread-and-butter deal for Freddie Mac—meaning it is the GSE’s standard issue multifamily securitization. The offering, K-021, is backed by 81 recently-originated multifamily mortgages and, as usual, guaranteed by Freddie Mac. It includes two senior principal and interest classes, one senior interest only class and a junior interest only class.
A syndicate led by Merrill Lynch, Pierce, Fenner & Smith and J.P. Morgan Securities are the co-lead managers and joint bookrunners. Credit Suisse Securities, Jefferies & Co., Morgan Stanley and Wells Fargo Securities will serve as co-managers. Fitch Ratings and Morningstar Credit Ratings are rating the three senior classes.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
