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Monday, 09 April 2012

Freddie Mac Launches Latest Apartment-Loan Securitization

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Commercial Real Estate Direct Staff Report

Freddie Mac has launched its fifth securitization of apartment loans this year.

The latest, FREMF, 2012-K707, is backed by 66 seven-year loans with a balance of $1.3 billion that were written by 14 of the agency's origination partners. It is being underwritten by joint bookrunners BofA Merrill Lynch and Credit Suisse and co-managers JPMorgan Securities, Jefferies, UBS Investment Bank and Wells Fargo Securities.

So far this year, the agency has issued four similar securitizations totaling $4.8 billion.

When added to the apartment securitizations issued by Fannie Mae and the Department of Housing and Urban Development, total agency issuance in the first quarter was $11.8 billion. Fannie issued three...

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Additional Info

  • Syndicate to Realpoint: No
  • Sector: Multifamily
  • Subject: Commercial MBS (CMBS), Mortgages/Financing (MOR)
  • Company: Gables Residential Trust
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