WASHINGTON, DC-Some three years in operation, FannieMae's Guaranteed Multifamily Structures program is stillattracting new investors to the program, KimberlyJohnson, Fannie Mae SVP of Multifamily Capital Markets,tells GlobeSt.com.
That observation was one of her take-aways from Fannie Mae'slatest transaction –- and its fifth for the year – when it priced amultifamily DUS REMIC totaling $1.02 billion. "We had over twodozen names in the book, including four new investors. We have beengetting new investors at a very consistent pace, which is apositive of course."
Another notable development with this offering is the appetiteinvestors showed for the discounted support bonds. "We offered anumber of tranches at discounted pricing due to the market sellingoff as we led into the pricing," Johnson says. "These were a uniqueopportunity for investors to take advantage of potentialprepays."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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 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.
