Morgan Properties acquires “B-Piece” on $683m K-Series securitization

Morgan Properties, a real estate investment and management company, announced acquired its fourth “B-Piece” from Freddie Mac through its K-Series Program. The issuance, K-W07, is supported by a pool of 36 multifamily mortgage loans. Morgan Properties acquired K-W06 in September.

“Since launching our credit platform in September 2017, we have been extremely active closing on four K-Series Deals across $3.2 billion in loans,” said Jason Morgan, senior vice president of Acquisitions and Investment Management at Morgan Properties. “Looking ahead to the new year, we’ll continue to invest in multifamily credit through Freddie Mac’s K-Series Program and expand upon both our debt and equity businesses to uphold our position as one of the fastest-growing companies in the country.”

At closing, the total loan balance represented by the K-W07 Multifamily Mortgage Pass-Through Certificates was approximately $683 million and the B-Piece that Morgan Properties acquired had a face amount of approximately $51 million. K-W07 is represented by a diversified group of multifamily properties located across 20 states including: Maryland, Massachusetts, Texas, Washington, and Virginia (in order of geographic concentration), among other states.