Freddie Mac has priced an offering of $568 million in structured pass-through K-W04 certificates backed by fixed-rate mortgages on multifamily properties affordable to working households earning low- to moderate-incomes.
The certificates are expected to settle on or about March 29.
The certificates are backed by corresponding classes issued by the FREMF 2018-KW04 mortgage trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of the class X2-A, X2-B, B, C and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-W04 certificates.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC acted as co-lead managers and joint book runners. Goldman Sachs & Co. LLC, Jefferies LLC, Nomura Securities International Inc. and Ramirez & Co. Inc. are the co-managers.