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Freddie Mac prices $637M in multifamily mortgage-backed certificates

Freddie Mac has priced a $637 million offering of structured pass-through certificates backed by multifamily mortgage loans on seniors housing properties.

The certificates are expected to settle on or about Dec. 12.

The K-S09 certificates include one senior principal-and-interest class and one interest-only class. The certificates are backed by corresponding classes issued by the FREMF 2017-KS09 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B, C and R certificates, which will be subordinate to the classes backing the K-S09 certificates and will not be guaranteed by the company.

Wells Fargo Securities LLC is sole lead manager and book runner. Co-managers include Amherst Pierpont Securities LLC, Cantor Fitzgerald & Co., J.P. Morgan Securities LLC and Samuel Ramirez & Co. Inc.