Freddie Mac priced an offering of approximately $1.2 billion of structured pass-through certificates, which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms.
Expected to settle on or about Oct. 11, the K-098 certificates are backed by corresponding classes issued by the FREMF 2019-K98 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B, C, D and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-098 certificates.
Barclays Capital Inc. and Wells Fargo Securities LLC are acting as co-lead managers and joint book runners for the offering. Amherst Pierpont Securities LLC, Brean Capital LLC, CastleOak Securities LP and J.P. Morgan Securities LLC are co-managers.
