Rumor has it that Fannie Mae is selling a 25 percent stake (valued at $300 million) in one of its apartment portfolios to New York-based real estate company Related Cos. Terms of the deal couldn’t be determined, and both Fannie Mae and Related declined requests for additional comment. The deal would be the first major bulk sale of foreclosed property by Fannie Mae, which has seen its portfolio’s apartment delinquency rate shoot up, and could signify the start of the downsizing of the GSEs’ massive real estate portfolios, in line with Congressional expectations.
