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Freddie Mac prices $560M multifamily securitization

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Freddie Mac prices $560M multifamily securitization

Freddie Mac priced an offering of approximately $560 million of a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust.

The SB certificates are set to settle on or about Jan. 22.

Freddie Mac is guaranteeing four senior principal and interest classes and one interest only class of securities issued by the FRESB 2019-SB58 Mortgage Trust.

The trust will also issue class B and R certificates, which Freddie Mac will not guarantee, and will be sold to private investors.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are acting as co-lead managers and joint book runners for the offering, with CastleOak Securities LP, FTN Financial Capital Markets, Multi-Bank Securities Inc. and Stifel Nicolaus & Co. Inc. as co-managers.