Off Market Financials (Multifamily) - Fannie & Freddie
I work for a multifamily acquisitions shop. We are looking to value a few properties that are off market and have Fannie & Freddie debt on them. I have heard that since they have this debt, their financials are in a public database. However, nobody knows how to find this database, and I can't confirm it exists.
Does anyone know if this database actually exists, and if so, how to access it?
Assuming you’re valuing them to try and buy them? Why won’t the seller just give you the financials?
This happens in the MH/RV space all the time. It often means they aren't real sellers.
There is no public fannie\freddie database with property operating statements
Fannie has a database of summarized operating statements for their portfolio called DUS Insights, but, AFAIK, it's only available to their lenders.
It is not public. We have access to it as an Agency Debt Servicer. I still prefer talking to appraisers however.
lmao, can you imagine the vultures (MF is full of them given how unsophisticated the asset class is ) if those financials were available. Now you have people cold calling for off market opportunities, if those financials were available, you will have the vultures be digging in for "distress".
There's actually a massive free & public database that includes detailed financial reporting (NOI, Appraised Value, In-place DSCR, loan info) for all CRE properties, including MF, that are apart of / have been apart of a CMBS security - this includes Freddie Mac K Deals. I can't remember what it's called off the top of my head, but it's a tool that is used by CMBS B-piece buyers.
I actually worked in CMBS. Trepp has financials for every property that has been securitized. But there is just a lot more commercial and hospitality deals that gets securitized than MF, when I worked in CMBS, very few deals got done given how competitive agencies are. I did not dig in to see whether Trepp has info to the same level of detail on the agency deals.
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