MCLEAN, VA-Freddie Mac on Monday said it’s offering about $1 billion in multifamily securities, with pricing expected to occur this week and settlement targeted for Dec. 22. The K-016 structured pass-through certificates are backed by 85 recently originated multifamily mortgages, the locally based GSE says in a release.
The securities will be offered by a syndicate led by Deutsche Bank and JPMorgan as co-lead managers and joint bookrunners. Credit Suisse, Merrill Lynch, Wells Fargo and Morgan Stanley will serve as co-managers.
The K-016 certificates include two classes of senior principal and interest classes, a senior interest-only class and a junior interest-only class. Fitch Ratings and Morningstar have been tapped to rate the three senior classes of certificates. This is the 12th K certificate offering this year, according to Freddie.
Watch GlobeSt.com for further updates on the Freddie offering.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
