STUART, FLA. — Walker & Dunlop has provided a $47.8 million Fannie Mae loan for the acquisition of Mason Stuart, a 270-unit apartment community located at 4585 S.E. Federal Highway in Stuart, a city in Southeast Florida’s Martin County. The borrower was Raia Capital Management. Craig West of Walker & Dunlop originated the fixed-rate, interest-only loan. Built in 2023, Mason Stuart features a mix of one-, two- and three-bedroom units, as well as a resort-style pool area, 24-hour fitness center with a yoga and spin room, an outdoor gathering pavilion, fenced dog park and multi-purpose walking trails.
BUFORD AND KENNESAW, GA. — Walker & Dunlop (NYSE: WD) has arranged the sale of and provided Freddie Mac acquisition financing for Town Laurel Crossing and Manor Barrett, two apartment communities in the metro Atlanta area totaling 707 units. The transactions represent a total of $352.8 million in capital movement and placement. The name of the borrower, a private multifamily owner-operator, was not disclosed. Both properties are currently listed under rebranded names on the website of Denver-based Mission Rock Residential, which provides third-party management services for the assets. The properties were both built in 2024. Chris Goldsmith, Telly Fathaly and Cameron Dunn of Walker & Dunlop represented the seller, Related Group, in both transactions. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop led the debt origination efforts on behalf of the new owner. Town Laurel Crossing is a 360-unit community located within the Exchange at Gwinnett shopping district in Buford, a northeastern suburb of Atlanta. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 752 to 1,550 square feet. Amenities include a pool, fitness center, lounge, clubhouse, dog park and outdoor grilling and dining stations. Manor Barrett is a 347-unit community …
EULESS, TEXAS — Canadian investment firm Western Wealth Capital (WWC), which also has an office in Phoenix, has purchased Park Place Townhomes, a 97-unit multifamily asset located near DFW International Airport in Euless. The property was built in 1980 and has an average unit size of 1,116 square feet. WWC partnered with StepStone Group on the deal, which involved the assumption of the existing mortgage. Brian Murphy of Newmark brokered the sale. Katie Runyan of Walker & Dunlop handled the loan assumption.
DURHAM, N.C. — Walker & Dunlop has secured the refinancing of Plat 4 at Research Triangle, a 240-unit apartment community located at 5510 Primary Drive in Durham. Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Michael Ianno and Stanley Cayre of Walker & Dunlop’s New York City office arranged the floating-rate, interest-only loans through ACRE on behalf of the borrower, Buckingham Cos. The financing of Plat 4 at Research Triangle was executed in tandem with the refinancing of Buckingham’s Plat 10 at the Ranch in Loveland, Colo., with both transactions totaling $110 million. Built in 2023, Plat 4 offers a mix of studio, one-, two- and three-bedroom residences, as well as a pool, fitness center, lounge, car care center and a dog park.
JERSEY CITY, N.J. — Walker & Dunlop has arranged a $220 million bridge loan for the refinancing of 626 Newark, a 576-unit apartment building in Jersey City. The newly built, 27-story building is located in the city’s Jersey Square neighborhood and includes 27,662 square feet of commercial space. According to Apartments.com, units come in studio, one- and two-bedroom floor plans, and amenities include a fitness center, arcade, bowling alley, music studio and a golf simulator. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Edward Leboyer of Walker & Dunlop arranged the loan through TYKO Capital on behalf of the borrower, Namdar Group. SCALE Lending provided the original $160 million construction loan for the property in early 2024.
Walker & Dunlop Arranges Sale of 576-Bed Student Housing Community Near Appalachian State University
BOONE, N.C. — Walker & Dunlop has arranged the sale of Mountaineer Village, a 576-bed student housing community located near the Appalachian State University campus in Boone. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, a joint venture between Coastal Ridge Real Estate and Heitman, in the disposition. The buyer and terms of the transaction were not released. Mountaineer Village offers three-bedroom units with bed-to-bath parity. Shared amenities include a study lounge, fitness center, resort-style pool, business center, basketball court, barbecue area, game room, sand volleyball court, pickleball courts and a fire pit.
CHARLESTON, S.C. — Walker & Dunlop has arranged a $75 million loan for the refinancing of Society at Laurens, a newly built, 148-unit luxury apartment community located at 31 Laurens St. in Charleston’s historic downtown district. Walker Layne, Matt Wallach and Stephen West led the Walker & Dunlop team that arranged the three-year loan through Aareal Capital on behalf of the borrower, Southern Land Co. The Society at Laurens features studio, one-, two- and three-bedroom apartments, as well as a heated saltwater pool and spa situated on a second-floor deck with views of Charleston Harbor. Other amenities include a high-end fitness center, controlled-access parking and package lockers with 24/7 access.
SAN MARCOS, TEXAS — Walker & Dunlop has brokered the sale of The Edge, a 553-bed student housing property located near the Texas State University campus in San Marcos. The community offers 173 units in a mix of one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a 24-hour fitness center, study rooms, a gaming room, resort-style pool, basketball and volleyball courts and a dog park. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna and Sarah Foronda of Walker & Dunlop represented the seller, 29th Street Capital, in the transaction. Campus Realty Advisors acquired the property for an undisclosed price. BWE arranged acquisition financing for the deal.
ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.
NATIONAL CITY, CALIF. — Gelt Venture Partners has acquired The Commodore, an apartment property located at 200-250 E. 31st St. in National City, for $40 million. Built in 2024, The Commodore comprises six three-story buildings offering a total of 92 studio, one- and two-bedroom floor plans with select units featuring two-story and loft-style layouts. At the time of sale, the property was 96 percent occupied. Units feature in-unit washers/dryers, quartz countertops, designer tile backsplashes, wood-style plank flooring, European-style cabinetry, stainless steel appliances and private balconies. Community amenities include a resort-style pool and spa, clubhouse, an outdoor lounge with fire pit, barbecue areas, electric vehicle charging stations, detached garages and an onsite leasing office. Hunter Combs of Walker & Dunlop represented the buyer and undisclosed seller in the deal.
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