American Mortgage Acceptance Co. said Fannie Mae has approved up to $250 million of multifamily loans that qualify as low-income-housing tax credits.

The real estate investment trust, part of the Related Capital Co. family, said it would originate or contract for loans of up to $6 million over the next two years.

American Property Financing will underwrite and service the loans for Fannie Mae, the company said.

All properties in the transaction will get a 9% tax credit for at least 90% of its units, the company 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.