Fannie Mae is planning to sell a stake in many apartment buildings to Related Cos., the Wall Street Journal reported, citing people familiar with the matter. The deal, whose value could not be determined, would represent the first major bulk sale of foreclosed property by the government-controlled Fannie Mae, the paper said.

Under terms of the deal, Fannie would sell a 25 percent stake of its inventory, valued at about $300 million, to the New York real estate company , the paper said