Fannie Mae plans to sell its Washington, D.C., headquarters building within the next three years as it consolidates several office sites into a single location, the mortgage finance company announced Thursday.

Fannie Mae has space in five owned and leased buildings in the area, including its headquarters at 3900 Wisconsin Ave. The decision to sell the organization' real estate stemmed from two leases that will expire in coming years, deteriorating conditions in the headquarters building and the chance to consolidate employees from five locations into one, Fannie Mae spokesman Pete Bakel said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.