GRS Group Receives Approval to Provide Fannie Mae Multifamily Green Financing HPB Reports
GRS Group is pleased to announce that it has been designated as a Pre-Qualified Consultant for the production of Fannie Mae High Performance Building (HPB) Reports under the popular Fannie Mae Green Rewards Program. These reports serve lenders participating in the Fannie Mae Multifamily Green Initiative.
“This is yet another important program that we’ve recently added to our already comprehensive suite of commercial real estate service solutions,” said GRS Group president, Noreen Clindinning. “Through GRS Group’s proprietary Global Services Connection platform, we are able to bring a more tailored approach to clients looking for programs and processes that enhance the value their transactions. Providing the Fannie Mae High Performance Building Reports as part of our service offering is a tremendous opportunity to better serve both our clients and the environment.”
Fannie Mae’s Multifamily Green Financing Program offers lower interest rates on loans made on certified energy efficient multifamily buildings. In an effort to incentivize property owners to improve the energy performance, Fannie Mae offers better pricing than non-green loans for multifamily refinance, acquisition or supplemental mortgage loans.
For those buildings not qualified for Green Building Certifications, Fannie Mae Multifamily offers additional incentives to help property owners reduce operating costs and create value with green property improvements. These incentives include preferential pricing, free energy and water audits (paid by Fannie Mae) and additional loan proceeds (underwriting of 75% of owner’s projected cost savings along with underwriting 25% of tenant’s projected cost savings). In order to receive these added incentives, property owners must commit to property improvements that are projected to reduce the whole property’s annual energy or water use by at least 20%.
GRS | Corteq is also fully approved under Freddie Mac’s Multifamily Green Advantage program. Freddie Mac’s program is also designed to make America’s rental housing more resource-efficient.
About GRS Group
GRS Group is a leading provider of commercial real estate (“CRE”) services worldwide. With offices across the United States, Europe, and affiliates around the globe, GRS Group provides local market knowledge with global perspective for institutional real estate investors, occupiers and lenders worldwide. The GRS Group team has evaluated and advised on over $1 trillion in CRE transactions.
Through the company’s proprietary management process, Global Services Connection, GRS Group delivers an integrated suite of services including Financial Advisory, Transaction Management, Assessment and Title Insurance. We provide a single point of contact, capable of leveraging the GRS Group portfolio of companies, and delivering customized solutions to assist our clients in achieving their investment goals.
For more information, visit http://www.grs-global.com or call 877 477 2731.