Freddie Mac is marketing a $1.4 billion multifamily commercial mortgage-backed securities, its fifth deal this year.

The deal, FREMF 2013-K712 is backed exclusively by fixed-rate multifamily mortgages with a 7-year term. The notes are expected to price this week, according to a press release.  

J. P. Morgan and Wells Fargo are co-lead managers and joint bookrunners. Barclays Capital, Credit Suisse, Guggenheim Securities and Merrill Lynch, Pierce, Fenner & Smith Iwill serve as co-managers.

The K-712 certificates are backed by 74 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. The capital structure includes two senior principal and interest classes, a senior interest only class and a junior interest only class. Standard & Poor's and Morningstar Credit Ratings assigned preliminary ratings of 'AAA'/ 'AAA' respectively, to the senior notes.

 

 

 

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