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CALEDONIA, MICH. — Walker & Dunlop has arranged a $25.4 million Fannie Mae loan for the refinancing of River Birch Apartments in Caledonia, a southern suburb of Grand Rapids. The 140-unit apartment community features one- and two-bedroom units. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop arranged the 10-year loan through Kari Zapolski of Inner Circle Holdings. The loan features five years of interest-only payments followed by a 35-year amortization schedule.