Freddie Mac began its first offering of structured pass-through certificates, K certificates, backed exclusively by multifamily mortgages on seniors housing properties, according to an article from MortgageOrb.

The goverment sponsored agency is planning to issue about $369 million in certificates that are backed by 27 multifamily mortgages and are guaranteed by Freddie Mac.

"We are very proud to announce our first K-deal backed entirely by seniors housing loans," says Freddie Mac's Mitchell Resnick. "Freddie Mac multifamily is expanding our securitization series while bringing liquidity to the seniors housing market."