VALLEY COTTAGE, N.Y. — Walker & Dunlop has arranged a $45 million bridge loan for the refinancing of Lincoln Logistics Center, a roughly 220,000-square-foot industrial property in Valley Cottage, about 30 miles north of New York City. The facility sits on a nearly 20-acre site and features a clear height of 36 feet, 34 loading dock doors, two drive-in doors and 123 car parking spaces foot clear heights. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Ari Hirt and Stanley Cayre of Walker & Dunlop arranged the loan on behalf of the owner, a joint venture between PCCP LLC and Lincoln Equities Group. Rialto Capital Management provided the financing.
HYATTSVILLE, MD. — Walker & Dunlop has secured $40.5 million in debt and equity for the construction of The Highlands, an affordable seniors housing development in Hyattsville, about seven miles east of downtown Washington, D.C. The borrower is a partnership between Community Housing Initiative Inc. and First Baptist Church of Highland Park. P.J. McDevitt of Walker & Dunlop originated the debt, which comprised an unfunded forward Freddie Mac TEL that Walker & Dunlop will service. The permanent loan is structured as a 30-month forward commitment with a 15-year term and 40-year amortization schedule. Macy Kisilinsky of Walker & Dunlop arranged the debt placement and equity syndication, a $12.3 million 4 percent LIHTC equity investment with United Bank. Prince George’s County Housing Investment Trust Fund and the Maryland Department of Housing and Community Development will provide additional subordinate financing. Situated on the First Baptist Church of Highland Park campus, The Highlands will feature one- and two-bedroom apartments that will be restricted to tenants age 62 and older. Five units will be reserved for households at 50 percent of the area median income (AMI) while the remaining 132 units will be restricted at 60 percent of AMI. Planned amenities include a dog …
COLLEGE STATION, TEXAS — Walker & Dunlop has brokered the sale of The Woodlands of College Station, a 769-bed student housing property located near the Texas A&M University campus in College Station. Completed in 2006, the community offers 276 units and amenities such as a pool, fitness center, basketball and volleyball courts, study lounges and shuttle service to campus. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda, Naomi Bludworth, Will Baker, William Shell, Jonathan Schwartz, Michael Ianno, Sean Reimer, Mike Shropshire and Doug McDaniel of Walker & Dunlop represented the seller, Interwest Capital, in the transaction. Walker & Dunlop also arranged an undisclosed amount of acquisition financing on behalf of the undisclosed buyer.
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.
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