The New York Times reported that while Freddie Mac and Fannie Mae have experienced severe losses following the housing crisis, both of the mortgage giants have seen some growing success with multifamily portfolios.
“Multifamily started off as a bit player with us, but in recent years it has taken on more importance,” a Fannie Mae executive said.
Archstone has been trying to rapidly sell assets from their portfolio to pay off debt. They've sold $2.3 billion in assets since the highly-leveraged Tishman Speyer and Lehman Brothers buyout last year. They have as much as $2 billion worth of properties on the market, said Robert M. White Jr.
He added that so far the sales price has averaged around $200,000 per unit, $40,000 less than the average price paid by Tishman Speyer and its financial partner.