Related may buy 25% stake in Fannie Mae's apartment inventory

04/6/2011 | Wall Street Journal, The

Related Cos. will acquire a 25% stake in Fannie Mae's inventory of multifamily properties, according to sources. The government-controlled inventory is valued at $300 million. The deal also includes a provision in which Fannie will sell Related stakes in future apartment properties that Fannie takes over. For its part, Related would invest in their maintenance and management. This deal would be the first bulk sale of apartment buildings by the GSE.

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