Freddie Mac announced the pricing of its SB66 offering, a $516 million multifamily mortgage-backed securitization backed by small-balance loans underwritten by the company and issued by a third-party trust. The company expects the SB66 certificates to settle on or around Sept. 24.
Freddie Mac is guaranteeing five senior principal and interest classes and one interest-only class of securities issued by the FRESB 2019-SB66 Mortgage Trust. The government-sponsored enterprise is also acting as master servicer and mortgage loan seller to the trust.
In addition to the six classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of class B and class R certificates that will not be guaranteed and will be sold to private investors.
J.P. Morgan Securities LLC and Amherst Pierpont Securities LLC are acting as co-lead managers and joint book runners for the offering. Cantor Fitzgerald & Co., CastleOak Securities LP, PNC Capital Markets LLC and Stifel Nicolaus & Co. Inc. are acting as co-managers.
