McLEAN, VA—Freddie Mac is bringing to marketits first seniors-only floating rate K-Deal.
The K Certificates consist exclusively of LIBOR-based, floatingrate multifamily mortgages with five-, seven-, and ten-year termson seniors housing properties. The company expects to offerapproximately $326 million in K Certificates, pricing them on orabout May 14, 2014. They will settle on May 23, 2014.
This is Freddie Mac's second K Certificate offering backedexclusively by seniors housing collateral—but its firstfloating-rate seniors deal. The first seniors-only transaction wasin April 2013.
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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.
