Tuesday, January 27, 2015

Fannie is getting new building, with long term lease and ownership


Fannie Mae has signed a lease for about 700,000 square feet with Carr Properties at 1150 15th St. NW. The move will enable it to consolidate its current headquarters, a mix of about 1 million square feet of owned and leased space.
The Carr is planning to demolish the Post's current headquarters to make way for the new development. The Post has signed on for space at 1301 K St. NW and plans to make tis [sic] move in 2016.


“The lease provides attractive financial terms and gives the company the flexibility to adapt to changes to future workplace needs,” she said in a statement. “Our new location also will ensure business resiliency. After extensive negotiations, the company determined that 1150 15th Street is the best option to meet Fannie Mae’s needs. We look forward to moving into our new home in the next few years.”

Fannie officials said there was no firm timetable for the move. The Washington Post plans to vacate the existing building in early 2016, a move that must occur before demolition can begin on the Post’s headquarters and Carr can begin construction on the Fannie building. Carr has not released its plans publicly.
Fannie plans to sell its building along Wisconsin Avenue but has not begun the sales sales process.
Now How is it the FHFA has signed on to letting Fannie Mae get a new building, including bulldozing the Post to make a BRAND NEW BUILDING for fannie mae and have the time to wait till 2016 to begin building the multi year construction if the FHFA and the government has intentions of putting fannie mae out of business? Seems illogical to sign a lease and bulldoze buildings in 2016 and fund the building of a new building, since fannie would be on the hook for it, the lease, even if the government puts fannie out of business. Seems this would be far fetched to believe this is the direction and the true direction is of that of a LONG TERM lease for Fannie Mae.

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