Freddie Mac Settles $369M Senior Housing K-Deal

Freddie Mac will be settling $369 million in K Certificates this week, in a transaction it first announced in April. The deal is backed exclusively by senior housing collateral, the first such deal by the GSE. It is Freddie Mac’s seventh K Certificate offering this year. The K-S01 Certificates were offered by Wells Fargo Securities, LLC as lead manager and sole bookrunner. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., and J. P. Morgan Securities LLC are the co-managers. The deal is part of Freddie Mac’s expansion of its securitization series, said Mitchell Resnick, vice president of Freddie Mac Multifamily Loan Pricing and Securitization in a prepared statement. “The sponsors behind these loans are experienced property owners, operators and managers who understand the unique housing needs of this rental segment.” In 2012 Freddie Mac purchased $650 million in seniors housing mortgage.