Morgan Properties Closes Six Freddie Mac K-Series “B-Pieces” Across $6.5 Billion in Total Loans in 2020
By
Staff
4 months ago
KING OF PRUSSIA, Pa.–(BUSINESS WIRE)–Morgan Properties, the nation’s fifth largest apartment owner and operator, is excited to announce its continued investment in the Freddie Mac K-Series space having acquired six separate K-Series B-Pieces in 2020 across $6.5 Billion in loans. The six B-Pieces that Morgan Properties acquired had a total face amount of around $500 million.
In September 2017, Morgan Properties launched its Special Situations platform where the company invests in fixed income securities, recapitalizations and other alternative investment opportunities. Morgan Properties saw a great opportunity to leverage off its vertically integrated multifamily investment platform and further diversify in the capital stack. Since launching its Special Situations platform, Morgan Properties has closed multiple recapitalizations of large multifamily equity portfolios along with 15 Freddie Mac K-Series B-Pieces across $15 billion in loans with a total face amount of $1.1 billion.