Search
 
Features

REITs Flocked To Fannie Mae’s CAS Offering Last Week

“I was not expecting to see such a dramatic increase so quickly,” says the GSE’s Laurel Davis.

Laurel Davis. Photo by Karen Elliott Greisdorf

WASHINGTON, DC–Fannie Mae recently added a REMIC structure to its credit-risk transfer program and REITs responded far beyond expectations last week to the inaugural offering, Laurel Davis, Vice President for Credit Risk Transfer at the GSE tells GlobeSt.com.

She reports that 22% of the investors in the first and second tranches were REITs and on the B1 tranche, almost 20% were REITs. Year to date, not counting this issuance, 9% of the investors in the first tranches have been REITs and only 3% have invested in the B1 tranche. “I was not expecting to see such a dramatic increase so quickly,” Davis says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erika Morphy

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.

More from this author

Recommended Stories

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.