CMF Briefs from EQT Exeter, Redwood Capital Group, Fannie Mae

EQT Exeter Acquires Redwood Capital Group

EQT AB, Stockholm, Sweden, agreed to acquire Redwood Capital Group, Chicago, a residential core plus and value-add investment manager.

Founded in 2007 by David Carlson and Mark Isaacson, RCG is a vertically integrated, core plus and value-oriented residential investment management firm, deeply experienced in all operating areas, including acquisition, asset management, construction management and property management. RCG, which has approximately 35 corporate employees, has successfully executed 79 multifamily investments in high-growth US markets, including 48 realized investments that achieved in excess of 2x equity returns across more than 22,000 units. RCG investments comprise deal-by-deal joint ventures on behalf of multiple institutional clients, including global fund sponsors, insurance companies and family offices.

EQT Exeter and RCG share similar investment philosophies and operating platforms, including a strong commitment to sustainability; EQT Exeter is developing multifamily buildings that are Fitwel and LEED certified, including the first Fitwel certified residential building in Philadelphia.

Fannie Mae Prices $720 Million Multifamily DUS REMIC

Fannie Mae, Washington, D.C., priced a $720 million Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures program on May 11, 2022. FNA 2022-M10 marked the fifth Fannie Mae GeMS issuance of 2022.

“The M10 provided an opportunity to buy discounted, 10-year cash flows with 100% of any future prepayment premiums on the underlying MBS,” said Dan Dresser, Senior Vice President of Multifamily Capital Markets and Pricing with Fannie Mae.

Fannie Mae guarantees all classes of FNA 2022-M10 with respect to the full and timely payment of interest and principal.