WASHINGTON, DC—Fannie Mae has priced itsfifth Multifamily DUS REMIC for the year, totaling$1.24 billion. The deal was based on both floatingrate and fixed-rate paper, due to investor demand for both types ofsecurities.
"There was huge demand for short floaters this month," accordingto Josh Seiff, Fannie Mae Vice President ofMultifamily Capital Markets. "We created a floater off of a blockof seasoned Fixed + 1 securities to meet some of that demand andalso issued a 5-year fixed-rate bond."
The deal was several times over subscribed, he added.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
