Briefs from Freddie Mac, Moody’s Analytics REIS, Lument

Freddie Mac Announces First K-Deal with SOFR-Indexed Multifamily Mortgages

Freddie Mac, McLean, Va., announced its latest offering of Structured Pass-Through K Certificates will include classes of floating-rate bonds indexed to the Secured Overnight Financing Rate and backed by underlying mortgages that are also indexed to SOFR.

K-F95 will also include classes of floating-rate bonds indexed to LIBOR and backed by underlying mortgages that are indexed to LIBOR.

Freddie Mac Multifamily began purchasing SOFR based floating rate mortgages in October 2020 and will cease all LIBOR-indexed loan purchases by the end of this year. Once all LIBOR-indexed loans purchased by year end 2020 have been securitized, floating-rate K Certificates will include only SOFR-indexed bond classes.

“Throughout the past year we have worked to ease the transition away from LIBOR with more than 20 K-Deals that included bonds indexed to SOFR,” said Robert Koontz, Senior Vice President of Multifamily Capital Markets. “The collateral for those offerings was LIBOR-based and Freddie Mac covered the basis mismatch. With purchases of SOFR-indexed loans gaining momentum, we’re now able to offer the first tranche of SOFR bonds backed by SOFR collateral.”

Moody’s Analytics REIS Expands CRE Coverage to Hotel Sector
Moody’s Analytics REIS, New York, expanded its CRE market coverage to the hotel sector.

The firm’s new hotel data offering includes 69 markets, historical trends back to 2000 and 10 years of forecasts for key performance metrics, including revenue per available room, occupancy rate and average daily rates. All data and analytics are available for three hotel tiers: Upper, Lower and Total. This new release augments our existing database of hotel sales comps.

ORIX Real Estate Capital Changes Its Legacy Brands to Lument

ORIX Real Estate Capital changed its brand to Lument effective immediately. In making this change, Lument sought to unify its legacy brands, Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group under a single banner. ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corp. USA. As the combined organization of Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group, Lument arranges capital for investors in multifamily, affordable housing, seniors housing and healthcare real estate. Lument is a Fannie Mae DUS, Freddie Mac Optigo, FHA and USDA lender. Lument also offers proprietary commercial lending, investment banking and investment management solutions. The firm has approximately 600 employees in more than 25 offices across the United States.