Hamilton Zanze Partners with Limekiln Real Estate to Acquire New-Issue Freddie Mac B-Piece Securities

SAN FRANCISCO – Dec. 12, 2024 – Hamilton Zanze, a leading San Francisco-based real estate investment firm, today announced that, in partnership with Limekiln Real Estate Investment Management, it formed a joint venture that acquired certain new-issue securities in the Freddie Mac K-165 transaction. Limekiln will serve as the Directing Certificate Holder under the offering. The acquisition closed on Nov. 7.

The partnership purchased Class D, X2A and X2B subordinate securities, collectively referred to as the “B piece.” These bonds have a total face value of approximately $63 million. FREMF 2024-K165 is a $1.27 billion, 10-year CMBS multi-borrower transaction. The underlying transaction is backed by 49 fixed-rate multifamily mortgage loans.

“Hamilton Zanze is very excited to have had an opportunity to participate in the Freddie Mac B piece program,” said Peter Casey, Managing Director of Capital Markets at Hamilton Zanze. “Over the last decade, we have carefully evaluated the right time, opportunity, and partner to participate in the program. We were fortunate that the stars aligned, enabling us to act quickly to participate in the K-165 offering. As a Freddie Mac borrower for more than 15 years, we deeply value the organization and are pleased to strengthen our relationship while supporting Freddie Mac’s housing goals.”

Falling under the umbrella of mortgage-backed securities (MBS), the K-Series is a trademarked offering exclusively from Freddie Mac.

ABOUT HAMILTON ZANZE
Hamilton Zanze is a private, San Francisco-based real estate investment company that invests with the highest standards. Since its founding in 2001, Hamilton Zanze has sponsored the acquisition of over $7.5 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company’s portfolio currently comprises 123 properties (21,777 units) across 28 markets. For additional information, visit www.hamiltonzanze.com.

ABOUT LIMEKILN REAL ESTATE
Limekiln Real Estate is a multifamily-focused real estate finance company led by seasoned professionals who have successfully built multiple debt platforms and executed through varying market cycles. The team has significant experience in originating commercial real estate debt investments and financing its debt positions through various structures including repurchase facilities and securitizations (CLO and CMBS). Limekiln’s two core strategies focus on originating multifamily bridge loans through the MF1 platform and investing in high yield bonds secured by multifamily mortgages. The firm will also execute opportunistically on select commercial real estate special situations.