Commercial/Multifamily Briefs, July 18, 2024

(Image courtesy of Markus Winkler via Pexels.com)

Freddie Mac Launches Multifamily Giant Participation Certificates

Freddie Mac last month announced a new product offering: Multifamily Giant Participation Certificates–single-class pass-through securities collateralized by existing Freddie Mac Multi PCs and/or Multifamily Giant PCs.

They can boost execution by consolidating individual Multi PCs and/or Multifamily Giant PCs into a larger security, providing investors with maximum flexibility to select and execute their own pooling and re-securitization strategies.

Two types of Multifamily Giant PCs were offered beginning July 1: taxable fixed-rate and tax-exempt Giant PCs.

TransUnion, Asurint Team on Multifamily Screening

TransUnion, Chicago, and Asurint, Cleveland, Ohio, announced a new compliance-focused solution for criminal background screening for multifamily property managers.

TransUnion’s TruVision Resident Screening product now includes Asurint’s criminal background reporting, with automated coverage across the U.S. Asurint’s features also apply federal, state and local filters designed to address consumer protection and housing regulations.

The effort also allows TransUnion to quickly deliver background reports, with most coming back in minutes and those with additional vetting usually coming back the same day.

CBRE Expands Partnership with AEW Capital Management’s Private Equity Group

CBRE, Dallas, has expanded its outsourcing agreement with AEW Capital Management to provide real estate accounting and reporting-related services to AEW’s North American Private Equity Group.

As part of this agreement, CBRE will provide AEW with accounting, financial reporting and property oversight services for approximately $40 billion in U.S. commercial real estate investments.

Additionally, the agreement includes the transfer of about 50 AEW employees to CBRE’s Boston office.