WASHINGTON, DC—Fannie Mae announced on Thursdayplans to sell its headquarters building at 3900 WisconsinAve. here and two other owned-properties in thedistrict.

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The GSE, which is facing expiring leases at two other buildingsin the district, says it plans to consolidate workers to a singlelocation in D.C.

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Fannie Mae spokesman Pete Bakel says thedecision to sell the organization's real estate holdings stemmedfrom two leases that will expire in coming years, deterioratingconditions in its headquarters building, and the goal toconsolidate workers housed in five locations into one, according tothe Washington Post.

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In addition to 3900 Wisconsin Ave., Fannie Mae owns 4250Connecticut Ave. and 3939 Wisconsin Ave.All those buildings will go on the market for sale, Bakel notes.Fannie Mae has lease expirations coming at 4000and 2115 Wisconsin Ave.

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“In the next two to three years, we plan to consolidate FannieMae staff from five Washington, D.C. area offices into a single,leased office building located in downtown D.C.,” Bakel says. “Thismove comes ahead of the expiration of two leases on buildings thathouse many of our employees in the District. While an exactlocation has not been determined, we are focused on makingresponsible real estate decisions to ensure the wise use ofresources, the safety and soundness of operations, and flexibilityto adapt to changes in our future workplace needs.” See story inthe Washington Post.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.