Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets, according to three people familiar with the offering.

The government-controlled loan financier, which has returned to profitability after being taken over by U.S. regulators in 2008, is offering securities linked to apartment complexes and issued in 2006 and 2007, said the people, who asked not to be identified because terms aren’t public.