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Freddie Mac prices $248M offering of structured pass-through certificates

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Freddie Mac prices $248M offering of structured pass-through certificates

Freddie Mac has priced a $248 million offering of structured pass-through certificates, backed by underlying collateral consisting of supplemental multifamily mortgages.

The K certificates are expected to settle around Sept. 17.

The K-J21 certificates are backed by corresponding classes issued by the FREMF 2018-KJ21 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B and class R certificates, which Freddie Mac will not guarantee.

Merrill Lynch Pierce Fenner & Smith Inc. is acting as lead manager and sole book runner. Brean Capital LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Stern Brothers & Co. are acting as co-managers.