Multifamily Developers in Houston Focus on Affordability

With a historic drop in oil prices amid a global pandemic, fate dealt Houston a bad hand in 2020, to put it mildly. But this is not the first time the city has seen bleak conditions — and faced them down.In 2015-2016, the metropolitan area was throttled by a double whammy of an oil bust and the Memorial Day and Tax Day floods, decimating a full 10 percent of its multifamily housing stock. Yet, by 2020, the city’s job growth exceeded the national rate for the 25th consecutive month, and …

Pandemic Sends Commercial Real Estate on a Roller Coaster Ride

While summer fairs and carnivals are mostly on hold, 2020 has taken us on a wild ride as the COVID-19 pandemic whipsawed the global economy in the first half of the year. The U.S. economy crashed downward in March as shelter-in-place rules drove unemployment to record numbers, surpassing peak levels of the 2008 Great Financial Crisis (GFC) in just one month.U.S. unemployment reached 14.7 percent in April, well above the 10.9 percent peak of the GFC. Including part-time workers who wish to …

Walker & Dunlop Arranges $8M Refinancing for Orange County Office Property

TUSTIN, CALIF. — Walker & Dunlop has secured a $8 million loan for the refinancing of Pointe Red Hill, a single-tenant office building located in Tustin. The borrower is Fortland Inc.Symetra Life Insurance Co. provided the 10-year, fixed-rate loan, which allowed the borrower to refinance the property’s existing debt and implement property improvements, including the installation of solar carports. Grant Robertson and Kevin Dinneen of Walker & Dunlop’s Los Angeles-based team …

Coronavirus & Capital Markets: Opportunity in the Midst of Caution

Lenders and investors may be a little wary when approaching deals under the shadow of COVID-19, but opportunities to employ capital strategically when market prices are low can make for long-term opportunities. Many in commercial real estate hope to lay significant groundwork, strengthening their economic trajectories whenever the market recovery begins.Keith Kurland, senior managing director at Walker & Dunlop, serves as co-head of the company’s New York Capital Markets practice and …

Walker Webcast: Steady Apartment Rent Collections Buoyed by Unemployment Benefits

BETHESDA, MD. — Several industry professionals are predicting that a second stimulus bill will be a $1.75 trillion package approved by Aug. 15.The comments came on a “Walker Webcast” webinar, entitled “All Eyes on Washington: What Will the Next Stimulus Bill Do for CRE?” that took place on Wednesday, July 29. Commercial real estate finance firm Walker & Dunlop hosts the webinar series.Willy Walker, chairman and CEO of Bethesda, Md.-based Walker & Dunlop, spoke with Bob …

Walker & Dunlop Secures $23M Financing for Affordable Housing Complex in New Orleans

NEW ORLEANS — Walker & Dunlop has provided a $23 million Freddie Mac permanent financing loan for The Reveal, a 150-unit affordable housing community in eastern New Orleans. Upon completion, The Reveal will offer one- through four-bedroom floor plans, each with a balcony. Communal amenities will include conference rooms, a community room, fitness center and a therapy room. The community will also feature a 1,745-square-foot business incubator, which caters residents wanting to launch …

Walker & Dunlop Arranges $14.6M Refinancing for Skilled Nursing Facility in Aurora, Illinois

AURORA, ILL. — Walker & Dunlop Inc. has arranged a $14.6 million loan for the refinancing of The Vistas Fox Valley in Aurora. The 136-bed skilled nursing facility offers full medical support and rehabilitation services for seniors age 65 and older. Amenities include an onsite spa and salon, dining services, transportation options, family lounges and 24-hour medical assistance. Joshua Rosen of Walker & Dunlop led the origination team. The HUD loan will replace existing debt previously …

Walker & Dunlop Acquires Beler Advisory Group, Expands NYC Capital Markets Team

NEW YORK CITY — Walker & Dunlop has acquired Beler Advisory Group (BAG), a locally based independent real estate finance firm. Mo Beler, former principal at BAG, will join Walker & Dunlop’s New York City capital markets debt and equity team, which is currently led by Aaron Appel, Jonathan Schwartz, Keith Kurland and Adam Schwartz. Beler, a 15-year industry veteran who has closed more than $6 billion in debt and equity transactions in his career, founded the company in

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 …

Walker & Dunlop Closes $44.3M Acquisition Financing for Multifamily Community in Gainesville, Georgia

GAINESVILLE, GA. — Walker & Dunlop provided a $44.3 million Freddie Mac acquisition loan for Century New Holland, a 348-unit multifamily community in Gainesville. The property, which was built in 2018, offers one-, two- and three-bedroom floor plans. Communal amenities include a dog park, car care detailing area, bocce ball court, picnic areas and grilling areas. The asset is located at 1465 Jesse Jewell Pasrkway NE, two miles north of downtown Gainesville and 57 miles northeast of …

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