Freddie Mac’s $579 Million Multifamily Sustainability Bond Offering


Cadwalader represented Morgan Stanley as depositor and co-lead manager in the CMBS securitization of a $579 million mortgage pool secured by multifamily properties with affordable housing and/or environmental impact features.

The offered certificates are designated as “Sustainability Bonds” within Freddie Mac’s Sustainability Bonds Framework, and the transaction proceeds will be used to finance multifamily properties that provide affordable housing, provide economic opportunity for residents and/or include environmental impact features.

Freddie Mac’s framework has been independently evaluated and deemed credible, impactful and aligned with the Green Bond Principles (2018) and the Social Bond Principles (2020), as administered by the International Capital Market Association.

Cadwalader’s Capital Markets team representing Morgan Stanley was led by Michael Gambro (Picture) and Henry LaBrun and included Michael Ruder, Andrew Knepley, Avis Edwards, Steve Vnuk and Alex Woods.

Involved fees earner: Avis Edwards – Cadwalader Wickersham & Taft; Michael Gambro – Cadwalader Wickersham & Taft; Andrew Knepley – Cadwalader Wickersham & Taft; Henry LaBrun – Cadwalader Wickersham & Taft; Michael Ruder – Cadwalader Wickersham & Taft; Stephen Vnuk – Cadwalader Wickersham & Taft;

Law Firms: Cadwalader Wickersham & Taft;

Clients: Morgan Stanley;

Author: Ambrogio Visconti