KBRA Affirms All Ratings for FREMF 2023-K157
22 May 2025 | New York
KBRA affirms all of its outstanding ratings for FREMF 2023-K157, a $1.1 billion CMBS multi-borrower transaction. All loans were originated in conjunction with the Federal Home Loan Mortgage Corporation’s (Freddie Mac) K-Deal program. The affirmations follow a surveillance review of the transaction, which has exhibited stable pool performance since securitization.
As of the April 2025 remittance period, none of the loans are specially serviced or delinquent, however, one loan (2.9% of the pool balance) has been identified as a K-LOC. The K-LOC is not within the top 10 and does not have an estimated loss at this time.
The transaction's WA KLTV is 109.0%, compared to 108.0% at last review and securitization. The WA KDSC of 1.32x is unchanged since last review and securitization.
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