Fannie Mae offers green building pricing break
More multifamily owners are pursuing green building certifications for their properties now than ever before.
Fannie Mae Multifamily is continuously innovating, improving financial products to match customers' financing needs, according to a release from the U.S. Green Building Council. Offering a program called the Green Building Certification Pricing Break is part of that innovation.
The pricing break reduces the all-in interest rate on loans for multifamily properties with eligible green building certifications by 10 basis points (0.10 percent).
In October, SolTerra took advantage of the Green Building Certification Pricing Break on its $3.8 million mortgage loan for The Woodlawn, a LEED platinum multifamily property in Portland, Ore. With 10 bps off the all-in interest rate, SolTerra will save $24,551 in interest over the loan term. These savings create value for SolTerra and pay back the LEED certification cost in less than five years.
For more on the pricing break, visit www.fanniemae.com/multifamily/green-initiative-financing.
Topics: Architectural Firms, Associations / Organizations, Building Owners and Managers, Certifications, Construction Firms, Consulting - Green & Sustainable Strategies and Solutions, Engineering Firms, Incentives - Rebates / Tax Credits / Other, Sustainable Communities, Urban Planning and Design, USGBC
Companies: U.S. Green Building Council