Walker & Dunlop Arranges $20.5M Loan for Refinancing of Multifamily Property in Louisiana
Orleans Square Apartments is a Class B, 472-unit, garden-style apartment community in Shreveport, La.
SHREVEPORT, LA — Walker & Dunlop has arranged a $20.5 million Freddie Mac loan for the refinancing of Orleans Square Apartments, a Class B, 472-unit, garden-style apartment community in Shreveport. Walker & Dunlop’s Stuart Wernick and Matt Newton arranged the 10-year, floating-rate loan with three years of interest-only payments, followed by a 30-year amortization period and an initial interest rate in the 3 percent range. Built in the 1970s and 80s, the property features three swimming pools, four laundry facilities, a clubhouse, playground and a tennis court.