Freddie Mac priced an offering of approximately $364 million of structured pass-through certificates, which are backed by underlying collateral consisting of supplemental multifamily mortgages.
Expected to settle on or about Sept. 27, the K-J25 certificates are backed by corresponding classes issued by the FREMF 2019-KJ25 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-J25 certificates.
J.P. Morgan Securities LLC is the lead manager and sole book runner for the offering. Academy Securities Inc., Barclays Capital Inc., Nomura Securities International Inc. and Wells Fargo Securities LLC are co-managers.
