Today Freddie Mac said it is offering its tenth offering of multifamily MBS called structured passthrough certificates or K certificates.
This deal, K-019, is worth $1.1 billion in K Certificates that are backed by 83 recently originated multifamily mortgages and are guaranteed by Freddie Mac.
The multifamily MBS consist of two senior principal and interest classes, one senior interest only class and a junior interest only class. Fitch Ratings and DBRS will be rating the three senior classes of K-019 Certificates, which have been assigned a preliminary ratings of ‘AAA(sf)'.
They will be offered to the market by a syndicate led by Barclays Capital and Credit Suisse as co-lead managers and joint bookrunners. Also, CastleOak Securities, JPMorgan Securities, Morgan Stanley, and Wells Fargo Securities have been named co-managers on the deal.
"We are very proud to announce our tenth K-deal of the year, and our 30th transaction since the program began just over three years ago. With this issuance, we've brought $12.6 billion in collateral to market this year,” said Mitch Resnick, head of multifamily capital markets for Freddie Mac.