Freddie Mac Multifamily issued more than $5 billion in green, social and sustainability bonds in 2020 through its Impact Bond series for the asset class, the GSE announced this week.
Of that amount, $3.3 billion were allocated toward green bonds in 2020, with $874 million in social bonds and $971 million in sustainability bonds issued through year’s end.
The green bonds are focused on making efficiency improvements to workforce housing, with tenants expected to save an average of $261 per unit annually through lower utility costs. Associated water improvements are expected to save more than 370 million gallons of water per year, equal to the amount used by 4,000 households, while energy reductions are projected to save 260 million kBtu per year, enough energy to power 7,200 homes.
The firm’s social bonds support affordable housing, with 73 of the loans aimed at properties targeting underserved populations like the disabled, seniors, farmworkers, homeless, veterans and transitional.Click here for the full article