Freddie Mac has announced its third offering of K-Certificates backed only by multifamily mortgages with a seven-year term. The company expects to offer approximately $1 billion in K-Certificates, which are expected to price this week and settle on or around Sept. 14.
The latest offering, dubbed K-703 Certificates, is backed by 71 recently originated multifamily mortgages and are guaranteed by Freddie Mac. Fitch Ratings and Moody's Investors Service Inc. have been engaged for the transaction.
Year to date, Freddie Mac has brought nine K-deals to market, with an issuance size of about $1 billion each.
