Walker & Dunlop

Walker & Dunlop Arranges $53.8M Construction Loan for Philadelphia Industrial Project

by Taylor Williams July 25, 2024

PHILADELPHIA — Walker & Dunlop (NYSE: WD) has arranged a $53.8 million construction loan for PhilaPort Logistics Center, a 282,250-square-foot industrial project in Philadelphia. The 15-acre site at 3060 S. 61st St. is located approximately three miles from Philadelphia International Airport and six miles from the Packer Avenue Marine Terminal. PhilaPort Logistics Center will feature a rear-load configuration, a clear height of 40 feet, 135-foot truck court depths, 50 exterior dock doors, two drive-in doors, 5,000 square feet of office space and parking for 187 cars and 72 trailers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Ianno of Walker & Dunlop arranged the financing through ACORE Capital. The borrower was New York City-based DH Property Holdings. Construction is slated for a third-quarter 2025 completion.

July 25, 2024

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Walker & Dunlop Provides $285.5M Refinancing for Two Student Housing Properties at Temple University in Philadelphia

by Kristin Harlow July 22, 2024

PHILADELPHIA — Walker & Dunlop Inc. has provided a $285.5 million loan for the refinancing of Vantage and The View at Montgomery, two student housing properties located on Temple University’s campus in Philadelphia. The Class A communities total 1,816 beds. Completed in 2019, Vantage rises 19 stories with 368 units. The property features more than 30,000 square feet of amenity space, retail offerings and floor plans ranging from studios to four bedrooms. Opened in 2014, The View at Montgomery includes 238 units and is located in the center of Temple University’s main campus. The 14-story building features studios through four-bedroom layouts. The Goldenberg Group acquired the site for Vantage and The View at Montgomery in 2008 as part of a multi-phase student housing project to bring much-needed rental product to Temple University. Walker & Dunlop’s multifamily finance and capital markets teams originated the seven-year, fixed-rate loans through Freddie Mac on behalf of The Goldenberg Group. Additionally, Walker & Dunlop Investment Partners (WDIP) provided a preferred equity investment as part of the refinancings. “In the face of macro headwinds stemming from the financial crisis, the COVID pandemic and nationwide enrollment pressure, the student housing sector has proven its resiliency time and …

July 22, 2024

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing Walker & Dunlop

Walker & Dunlop Brokers Sale of 146-Unit Seniors Housing Property in Bucks County, Pennsylvania

by Taylor Williams July 16, 2024

BUCKS COUNTY, PA. — Walker & Dunlop has arranged the sale of a 146-unit seniors housing property in Bucks County. The unnamed property, which was developed in 2022 and is located about 30 miles north of Philadelphia, offers independent living, assisted living and memory care services. The buyer was a public healthcare REIT. The seller and sales price were not disclosed. Joshua Jandris, Mark Myers and Brett Gardner led the Walker & Dunlop team on the transaction.

July 16, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Affinius Capital Provides $112.7M Loan for Refinancing of Yonkers Apartment Building

by Taylor Williams July 11, 2024

YONKERS, N.Y. — Affinius Capital has provided a $112.7 million loan for the refinancing of Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. The newly built waterfront property offers 119 studios, 218 one-bedroom units, 90 two-bedroom residences and 13 three-bedroom apartments. Units are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include an outdoor heated pool, terraces with grills and outdoor games, a fitness center, resident lounge, coworking space, multi-sport simulator and a game room. Jonathan Schwartz, Aaron Appel, Sean Reimer, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the financing on behalf of the borrower, a joint venture between Rose Associates and Battery Global Advisors.

July 11, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Invictus Real Estate Provides $69M Bridge Loan for Brooklyn Apartment Complex

by Taylor Williams July 1, 2024

NEW YORK CITY — Invictus Real Estate Partners has provided a $69 million bridge loan for Mason Gray, a 158-unit apartment complex in Brooklyn’s Crown Heights neighborhood. The seven-story building houses 110 market-rate units, most of which are one-bedroom residences, and 48 affordable housing units as well as a 9,000-square-foot community facility space. Mike Diaz and Aaron Appel of Walker & Dunlop arranged the loan on behalf of the borrower, Hope Street Capital, which will use the proceeds to complete construction and fund leasing costs.

July 1, 2024

Affordable Housing Development Kansas Loans Midwest Multifamily Walker & Dunlop

Walker & Dunlop Arranges $29.6M in LIHTC Equity for Affordable Housing Project in Lenexa, Kansas

by Kristin Harlow June 26, 2024

LENEXA, KAN. — Walker & Dunlop Inc. has arranged $29.6 million in federal Low-Income Housing Tax Credit (LIHTC) equity for the financing of Canyon Creek East, an affordable housing project in Lenexa. The development will include 212 units across five buildings. Jennifer Erixon led the Walker & Dunlop team that arranged the LIHTC equity, which will finance approximately 40 percent of the total development costs, on behalf of MRE Capital. Canyon Creek East is part of the larger Cedar Canyon West development plan, which encompasses a mix of residential, commercial and recreational facilities. MRE’s development will provide units for households earning between 30 and 80 percent of the area median income.

June 26, 2024

Acquisitions Colorado Multifamily Seniors Housing Walker & Dunlop Western

Walker & Dunlop Negotiates Sale of 125-unit Lakeview Senior Living in Lakewood, Colorado

by Amy Works June 10, 2024

LAKEWOOD, COLO. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.

June 10, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $110M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams May 21, 2024

NEW YORK CITY — Walker & Dunlop has arranged a $110 million construction loan for a 246-unit multifamily project that will be located at 880 Atlantic Ave. in the Prospect Heights area of Brooklyn. The building will house studio, one- and two-bedroom units as well as 13,000 square feet of commercial space. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, EMP Capital Group. QuadReal Property Group provided the financing.

May 21, 2024

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River City Bank Provides $15M Loan for Refinancing of Villa Montaña Apartments in Scottsdale

by Amy Works May 10, 2024

SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.

May 10, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Reynolds Asset Management Receives $19.5M Agency Loan for Refinancing of Poughkeepsie Multifamily Property

by Taylor Williams May 9, 2024

POUGHKEEPSIE, N.Y. — New Jersey-based investment firm Reynolds Asset Management has received a $19.5 million Fannie Mae loan for the refinancing of Violet Estates, an 84-unit multifamily property located north of New York City in Poughkeepsie. Violet Estates is reserved for renters age 55 and above and offers studio, one- and two-bedroom units. Amenities include a resident lounge, fitness center, bocce ball courts and a dog park. The property also houses 7,000 square feet of retail space that is leased to users in the food-and-beverage, fitness and art businesses, among others. Allan Edelson of Walker & Dunlop originated the financing.

May 9, 2024

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