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Fannie Prices First Green Deal of 2019

Fannie Mae has priced its first Multifamily DUS REMIC in 2019 totaling $996.5 million under its Fannie Mae Guaranteed Multifamily Structures, also known as Fannie Mae Gems, and its latest green offering.

“This marks Fannie Mae’s ninth Green GeMS deal; the desk continues to bring alternative Green investments to the Green MBS market, while providing the same solid credit performance to our established DUS and GeMS investors,” said Dan Dresser, vice president, for multifamily capital markets, trading and credit pricing for Fannie.

Fannie Mae’s multifamily green financing business provides financing through several different Green product offerings, encouraging apartment building owners to make energy and water savings improvements to their properties.

In addition, the Fannie Mae Green Financing Business provides financing to properties holding a third-party, Fannie Mae approved green building certification. Fannie Mae introduced the Green MBS product to the market in 2012 and has issued over $51 billion in Green MBS since the program’s inception.

“Because the [deal] is fully collateralized by our Green Rewards MBS, the deal supports the reduction of greenhouse gases, as well as the reduction of utility costs for families and individual tenants through retrofits to existing, aging Multifamily housing in the United States,” said Chrissa Pagitsas, director of multifamily green financing business at Fannie.

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