Walker & Dunlop

Walker & Dunlop Arranges $47M Sale of New Multifamily Community in Atlanta’s West Midtown

by Alex Tostado April 15, 2019

ATLANTA — Walker & Dunlop has arranged the $47 million sale of Westside Heights, a 282-unit multifamily community in West Midtown Atlanta. The asset was built in 2017 and is located near the Atlanta BeltLine. The property offers one- and two-bedroom floor plans and features community amenities such as a complimentary continental breakfast and coffee bar, swimming pool, clubhouse, fitness center, conference room, rooftop lounge and package receiving services. Pat Jones and Chris Goldsmith of Walker & Dunlop represented the buyer, Canadian-based Starlight U.S. Multi-Family, in the transaction. The seller was not disclosed. David Gahagan and Niki Perez, also with Walker & Dunlop, arranged acquisition financing through a life insurance company on behalf of the buyer.

April 15, 2019

Florida Loans Mixed-Use Multifamily Southeast Walker & Dunlop

Walker & Dunlop Arranges $45.2M Refinancing for Two Parcels in South Florida

by John Nelson March 21, 2019

MIAMI AND BOCA RATON, FLA. — Walker & Dunlop has arranged $45.2 million in financing for two parcels in South Florida. Eric McGlynn and Kevin O’Grady of Walker & Dunlop arranged the refinancing loans in two separate transactions, which effectively lower the interest rates on each property’s existing land loan. The first loan was on behalf of Property Markets Group (PMG) for $33 million for a parcel in Miami located at 300 Biscayne Blvd. that will house Waldorf Astoria & Residences Miami. PMG, Greybrook Realty Partners and S2 Development are co-developing the 98-story building that will feature 140 hotel rooms and approximately 400 for-sale condominiums. BridgeInvest provided the non-recourse, interest-only loan that gives the developers the option to exit with limited prepayment penalties. The second loan, which was for 130 acres in Boca Raton, totaled $12.2 million. The land is the former site of Mizner Trail Golf Club, a public golf course. The owner of the land, Compson Associates, is planning to develop a 255-unit residential development consisting of townhomes and single-family homes. New Gables Capital provided the non-recourse loan that gives the borrower 12 additional months to complete predevelopment activities.

March 21, 2019

Georgia Loans Office Southeast Walker & Dunlop

Walker & Dunlop Arranges $44.3M Refinancing Loan for Office Park in Metro Atlanta

by Alex Tostado March 11, 2019

MARIETTA, GA. — Walker & Dunlop Inc. has arranged a $44.3 million refinancing loan for Marietta Technology Center, a 347,500-square-foot office park in Marietta. Mark Strauss and Rob Quarton of Walker & Dunlop represented the borrowers, Praelium Commercial Real Estate and South Street Partners, in arranging the seven-year, fixed-rate loan with interest-only payments. The refinancing covers the asset’s four, single-story buildings, which were built between 1983 and 1985. The office park is situated at 2161 New Market Park Way, about 16 miles northwest of downtown Atlanta.

March 11, 2019

California Features Multifamily Walker & Dunlop Western Western Feature Archive

Expect Multifamily Debt Market to Grow Overall in 2019, Says Walker & Dunlop’s Jeff Burns

by Taylor Williams February 28, 2019

SAN DIEGO — While agency volume may decrease slightly in 2019 due to tougher energy conservation standards in green lending programs offered by Fannie Mae and Freddie Mac, the multifamily debt market overall is expected to grow this year, according to a veteran mortgage banker. Jeff Burns, managing director at Walker & Dunlop’s Walnut Creek, Calif., office, spoke to REBusinessOnline at the MBA 2019 Commercial Real Estate Finance/Multifamily Housing Convention & Expo. The event, held at the Manchester Grand Hyatt San Diego, took place Feb. 10-13. Although the 10-year Treasury yield is down about 50 basis points since reaching 3.2 percent in early November, most economists expect long-term rates to rise in 2019. (Investor worries over trade conflicts, a volatile equities market and falling oil prices led to a precipitous drop in the yield on the benchmark Treasury note.) Burns, who is responsible for new loan origination in California and the western United States, discussed trends in agency lending as well as the state of the multifamily market. What follows are his edited responses: Rebusinessonline.com: What trends are you seeing in agency financing for the multifamily sector in the western region? Jeff Burns: Fannie Mae and Freddie Mac continue to …

February 28, 2019

Arizona Hospitality Loans Walker & Dunlop Western

Walker & Dunlop Structures $40M in Financing for 136-Key AC Marriott in Tucson, Arizona

by Jeff Shaw February 18, 2019

TUCSON, ARIZ. — Walker & Dunlop has structured $40 million in financing for the AC Hotel by Marriott Tucson Downtown, located at 151 E. Broadway Blvd. in Tucson. The borrower is Tucson Urban. Completed in fall 2017, the eight-story hotel features 136 guest rooms and was the first hotel built in downtown Tucson since the early 1970s, according to Walker & Dunlop. Hotel amenities include a fitness center, rooftop pool and 1,847 square feet of meeting space. Jim Pierson and Keaton Merrell of Walker & Dunlop’s Phoenix office, in collaboration with Alison Williams and Matt Baldwin of Walker & Dunlop’s Tampa, Fla., office, arranged the 10-year cash-out loan, which features three years of interest-only payments, through a CMBS provider.

February 18, 2019

Arizona Loans Multifamily Oregon Seniors Housing Walker & Dunlop Western

Walker & Dunlop Provides $39.3M in Financing for Seniors Housing Properties in Arizona, Oregon

by Amy Works February 15, 2019

MESA, ARIZ., AND SPRINGFIELD, ORE. — Walker & Dunlop has funded $39.3 million in financing for two seniors housing properties in Arizona and Oregon. Kevin Giusti, Michael Davis and Jeff Ringwald of Walker & Dunlop led the origination team for the transactions. The Walker & Dunlop team structured a $25.8 million Fannie Mae loan backed by The Summit at Sunland Springs, located at 2415 S. Signal Butte Road in Mesa. Owned Ahlstrom Investments and managed by Avista Senior Living, the facility offers assisted living and memory care units. Prior to the property’s full stabilization, Walker & Dunlop secured a 10-year, fixed-rate loan while recapitalizing the property owner’s equity. The team also arranged a $13.5 million refinance through Freddie Mac for The Rawlin at Riverbend Memory Care. The Freddie Mac loan enabled the sponsor, Onelife Investments, to recapitalize 100 percent of its equity while providing a 15-year, fixed-rate loan. The dedicated memory care facility is located at 3491 Game Farm Road in Springfield.

February 15, 2019

Loans Michigan Midwest Multifamily Seniors Housing Walker & Dunlop

Walker & Dunlop Secures $24.8M Construction Loan for Seniors Housing Complex in Michigan

by Kristin Harlow January 16, 2019

WYOMING, MICH. — Walker & Dunlop Inc. has secured a $24.8 million loan for the construction of Traditions at Rivertown, a seniors housing complex in Wyoming, just south of Grand Rapids. The 150-unit property will include independent living, assisted living and memory care units. Slated for completion in November, the property will feature a library, bar, theater, fitness center, coffee bar, lounge and underground parking. Benjamin Krosin, Jeff Schmidt, Tim Cotter and Russell Dey of Walker & Dunlop partnered with Kari Zapolski of Inner Circle Holdings to structure the five-year loan with three years of interest-only payments. A regional bank provided the loan on behalf of the borrower, Redstone Group Management Inc.

January 16, 2019

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