Earlier this month Freddie Mac announced that it has reentered the Housing Credit market with a new fund with Enterprise Community Investment. The fund will invest as much as $100 million and will focus on areas and transactions that have been underserved over the past decade, such as rural communities, properties financed with 4 percent Housing Credits, and developments that provide intensive supportive services to their residents. The fund has already closed its first transaction: Wintergreen West, which will provide 40 apartment homes for residents of Summit County, Colorado, a rural area 75 miles west of Denver. Freddie Mac was a large part of the Housing Credit equity market prior to conservatorship in 2008. Last year the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac would be allowed to reenter the Housing Credit market as equity investors. Each has an annual limit of $500 million, a 5 percent market share each, and is directed to focus on areas that FHFA has identified as underserved markets to complement the agency’s Duty to Serve priorities.
Freddie Mac Reenters the Housing Credit Market with a New Fund with Enterprise
