Walker & Dunlop

Walker & Dunlop Provides $67M HUD Construction Loan for Shoma Village Apartments Near Miami

by Taylor Williams August 17, 2020

HIALEAH, FLA. — Walker & Dunlop has provided a $67 million HUD construction loan for Shoma Village Apartments, a 304-unit multifamily community that will be located in Hialeah. The borrower was locally based developer Shoma Group. Shoma Village Apartments will include 11,625 square feet of retail space fronting Hialeah Drive, about 15 miles northwest of downtown Miami. The property will consist of two eight-story residential buildings offering studio, one-, two-and three-bedroom units. Amenities will include a resident clubhouse, pool, fitness center with yoga and spin studios, resident coffee bar, dog park and a private courtyard with grilling stations. The clubhouse spans 7,300 square feet and features a concierge package room, communal kitchen, pool table and terrace area. Keith Melton, David Strange, Livingston Hessam and Jeremy Pino of Walker & Dunlop secured the loan through HUD’s 221(d)(4) program, which includes both construction and permanent financing for a project in a single loan. The financing was structured with a fixed interest rate for the two-year construction period and the 40-year amortization schedule. The financing also features a declining prepayment schedule for the initial 10 years post-construction. “The residential urbanization in cities like Hialeah is something we are seeing throughout Florida, and is very similar to …

August 17, 2020

Colorado Loans Multifamily Seniors Housing Walker & Dunlop Western

Walker & Dunlop Provides $16.4M HUD Financing for Colorado Skilled Nursing Portfolio

by Amy Works August 13, 2020

ROCKY FORD, PAONIA AND GLENWOOD SPRINGS, COLO. — Walker & Dunlop Inc. has arranged $16.4 million in financing for three skilled nursing facilities in Colorado. The borrower is Madison Creek Partners. The portfolio comprises Pioneer Health Care Center, a 29-unit facility in Rocky Ford; Paonia Care & Rehabilitation, a 28-unit facility in Paonia; and Glenwood Springs Health Care, a 29-unit facility in Glenwood Springs. Kevin Giusti led the origination team. The HUD loans will refinance existing debt. Renovated in 1964, Pioneer Health Care Center is the only Veterans Affairs-contracted facility within 80 miles. Paonia Health Care Center is a skilled nursing and memory care facility built in 1984. Glenwood Springs Health Care is the sole skilled nursing facility in its area, located less than a mile from its local medical center, Valley View Hospital.

August 13, 2020

California Loans Office Walker & Dunlop Western

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

by Amy Works August 3, 2020

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 arranged the financing. The two-story, 51,065-square-foot property features an open floor plan with a mix of private suites and conference rooms. Since 2018, an online retail company has occupied the building.

August 3, 2020

Content Partner Features Multifamily Northeast Feature Archive Walker & Dunlop

Coronavirus & Capital Markets: Opportunity in the Midst of Caution

by Sarah Daniels August 3, 2020

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 spoke to REBusinessOnline about the business of sourcing and structuring debt and equity financing in the midst of coronavirus. Kurland joined Walker & Dunlop in January of this year, after the company acquired AKS Capital Partners, which was co-founded by Kurland in 2019. Coronavirus Conditions & the Impact on Lender and Investor Interest “Given our diverse and multi-sector client base, we are still actively financing almost every product type,” Kurland says. “While some sectors and deal types may be more challenging than others due to the impact of COVID-19, we are still tasked with supporting our clients to make sure that they’re either being defensive or offensive, depending upon the lifecycle of the projects that they’re currently invested in. Our team is currently marketing and under application with …

August 3, 2020

Features Multifamily Southeast Feature Archive Walker & Dunlop

Walker Webcast: Steady Apartment Rent Collections Buoyed by Unemployment Benefits

by Kristin Harlow July 31, 2020

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 Broeksmit, president and CEO of the Mortgage Bankers Association (MBA); Doug Bibby, president of the National Multifamily Housing Council (NMHC); and Jeff DeBoer, president and CEO of Real Estate Roundtable. The three guests conversed on a variety of topics, with the possible extension of the eviction moratorium being one of the most discussed issues. Bibby of NMHC equated the moratorium to rent control. The notion sounds good because the consumer is protected, but it can have devastating effects on the owner, particularly in the multifamily space where a lot of landlords are smaller owner-operators. “They [multifamily owners] could lose everything with an eviction moratorium because they have mortgages, property taxes, insurance and payroll to pay,” said Bibby. Over 40 percent of apartment …

July 31, 2020

Affordable Housing Loans Louisiana Multifamily Southeast Walker & Dunlop

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

by Alex Tostado July 24, 2020

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 their own businesses. Heather Olson of Walker & Dunlop originated the loan on behalf of the developer, Commonwealth Cos. National Equity Fund is an equity partner with the developer. Sterling Bank, the Louisiana Housing Corp. and the Housing Authority of New Orleans are providing additional funding. A timeline for completion was not disclosed.

July 24, 2020

Illinois Loans Midwest Multifamily Seniors Housing Walker & Dunlop

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

by Kristin Harlow July 13, 2020

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 provided by Walker & Dunlop’s bridge lending program.

July 13, 2020

Company News Multifamily New York Northeast Walker & Dunlop

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

by Taylor Williams July 6, 2020

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 2019.

July 6, 2020

Content Partner Features Multifamily Walker & Dunlop

The Impact of COVID-19 on the Multifamily Appraisal Industry

by Sarah Daniels June 19, 2020

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 extent, if any, market conditions are affected. Related, complicating factors include fluctuations in the stock market and changes in mortgage interest rates. Market analysis includes observing market reactions. This analysis becomes more complicated when market participants themselves are facing uncertainty. Appraisal reports should include a discussion of market conditions and should mention the coronavirus outbreak and its possible impact. However, it is not appropriate to include a disclaimer or extraordinary assumption that suggests the appraiser is not taking responsibility for the analysis of market conditions. While it is important that multifamily appraisers do not jump to conclusions and make long-term predictions, we must understand the different ways in which COVID-19 is currently impacting the commercial real estate market. It is also important that we …

June 19, 2020

Acquisitions Georgia Loans Multifamily Southeast Walker & Dunlop

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

by Alex Tostado May 29, 2020

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 downtown Atlanta. Centennial Holding Co. acquired the property from the undisclosed seller. Brian Moulder, Chris Goldsmith and Sean Williams of Walker & Dunlop represented the buyer in the sale transaction. Taylor Williams of Walker & Dunlop originated the fixed-rate loan, which features five years of interest-only payments.

May 29, 2020

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