The Impact of COVID-19 on the Multifamily Appraisal Industry

The spread of COVID-19 is impacting all industries and markets — including the appraisal space. That said, appraisers should avoid making long-term assumptions about the impact the virus will have on real estate values. According to the Appraisal Institute, the current environment is fluid: An important part of any appraisal assignment is an analysis of market conditions. The coronavirus threat may be impacting market conditions. However, in most markets, it is not yet clear to what …

June 19, 2020Content Partner, Features, Multifamily, Walker & Dunlop

Walker & Dunlop Provides $37M in HUD Financing for Three Senior Living Facilities in Illinois, Michigan

AURORA AND KANKAKEE, ILL. AND NOVI, MICH. — Walker & Dunlop Inc. has provided $37 million in financing for two senior living facilities in Illinois and one in Michigan. Walker & Dunlop provided $14.9 million for The Grove Fox Valley, a 156-bed skilled nursing facility in Aurora, Ill.; $14.9 million for WellBridge of Novi, a 100-bed skilled nursing facility in Novi, Mich.; and $7.4 million for Asbury of Kankakee, a 98-bed supportive living facility in Kankakee, Ill. Joshua Rosen of …

May 27, 2020Illinois, Loans, Michigan, Midwest, Multifamily, Seniors Housing, Walker & Dunlop

Focus on Phoenix: Multifamily Sector Shows Promise Despite Turbulence

Just over a decade ago, a booming Phoenix market experienced a confluence of trends — rampant overbuilding, followed by a national economic crisis that meant a spike in unemployment and a near halt in population growth. One of the biggest commercial real estate downturns in the region’s history soon followed. Ten years later, however, the picture was quite different. Prior to the COVID-19 outbreak, Phoenix multifamily metrics were solid through the first quarter of 2020 and supported by …

May 20, 2020Arizona, Content Partner, Development, Features, Multifamily, Walker & Dunlop

Walker & Dunlop Provides $2.4B Fannie Mae Refinancing for Multifamily Portfolio in Metro D.C., Largest Loan in Company’s History

WASHINGTON, D.C. — Walker & Dunlop Inc. has provided a $2.4 billion Fannie Mae loan to refinance a 67-property multifamily portfolio in the Washington, D.C., metro area. The borrower is Virginia-based multifamily owner and manager Southern Management Corp. (SMC). The portfolio includes 22,439 units in total, more than 60 percent of which qualify as affordable housing. The loan package features staggered maturities across a mix of fixed- and floating-rate, full-term, interest-only …

May 1, 2020District of Columbia, Loans, Multifamily, Southeast, Top Stories, Walker & Dunlop

Walker & Dunlop: Rent, Lenders, Tech in the Midst of Coronavirus

In recent weeks, the ability of commercial real estate owners to access debt and equity has come into question as the novel coronavirus wreaks havoc on the economy. While some deals in the pipeline are still getting done, the debt markets took a pause as the pandemic took hold. Debt markets were waiting for clarity on how various sectors would react, according to Mark Strauss, managing director of capital markets, and Rob Quarton, director of capital markets, with Walker & Dunlop’s …

April 24, 2020Content Partner, Development, Features, Industrial, Loans, Midwest, Multifamily, Northeast, Office, Retail, Southeast, Texas, Walker & Dunlop, Western

Walker & Dunlop Arranges Sale of 325-Unit Multifamily Portfolio in Denton

DENTON, TEXAS — Walker & Dunlop has arranged the sale of Locust 210 Lofts, Victoria Heights, Victoria Station, Victoria Village, The Adagio and Locust Street Terrace Apartments, six apartment communities totaling 325 units and 18,000 square feet of commercial space in Denton. Each of the Class A, mid-rise properties was built between 2009 and 2014, and the portfolio had a collective occupancy rate of 94 percent at the time of sale. Kyle Palmer led a Walker & Dunlop team that brokered …

April 9, 2020Acquisitions, Multifamily, Texas, Walker & Dunlop

Walker & Dunlop Provides $51.9M HUD Construction Loan for Apartment Complex in Downtown Huntsville

HUNTSVILLE, ALA. — Walker & Dunlop has provided a $51.9 million construction loan to Spring Bay Property Co. and RCP Cos. for Eclipse at CityCentre, a planned five-story, 278-unit apartment complex in downtown Huntsville. Walker & Dunlop provided the loan through the United States Department of Housing and Urban Development’s (HUD) 221(d)(4) construction program, which includes both construction and permanent financing in a single loan. The two-year term for the construction period …

March 16, 2020Alabama, Development, Loans, Multifamily, Southeast, Walker & Dunlop

Opportunity Zones, HUD: Delivering More Workforce Housing

Many of today’s headlines about multifamily housing have focused on the market’s two extremes: homelessness and high-end penthouses. Meanwhile, a crisis has been growing in the “missing middle;” there is a shortage of affordable rental housing for middle-class workers like teachers, firefighters and police officers. In recent years, middle-income families have been struggling with flat wages and rising childcare, education and healthcare costs. Not only are families being priced out …

March 6, 2020Content Partner, Development, Features, Midwest, Multifamily, Northeast, Southeast, Texas, Walker & Dunlop, Western

What Does Walker & Dunlop’s New Venture Mean for Multifamily Lending?

Walker & Dunlop has entered into a joint venture with commercial real estate data science company GeoPhy to optimize the multifamily valuation process. The new appraisal company is called Apprise, and its goal is a five-day appraisal to accelerate the delivery of capital to real estate operators, Walker & Dunlop’s clients among them. Brad Savage, MAI, CCIM, Chief Product Officer of Apprise, discusses the marriage of data and human expertise in Apprise’s approach to commercial …

February 24, 2020Finance Insight, Midwest, Multifamily, Northeast, Southeast, Texas, Thought Leadership, Video, Walker & Dunlop, Western

Walker & Dunlop Provides $13M HUD Loan for Refinancing of Skilled Nursing Facility in Lubbock

LUBBOCK, TEXAS — Walker & Dunlop has provided a $13 million HUD loan for the refinancing of Crown Point Health Suites, a skilled nursing facility in Lubbock. The property was built in 2011 and features 96 units. Kevin Giusti of Walker & Dunlop structured the financing through HUD’s LEAN 232/233(f) program, which provides long-term and reduced-rate financing for specialty healthcare facilities. The borrower was not

February 14, 2020Healthcare, Loans, Texas, Walker & Dunlop