Walker & Dunlop

Web-Based Appraisal Tool Supports Massive Increase in Demand for Multifamily Valuations

by Sarah Daniels February 17, 2022

Multifamily appraisers are extremely busy as investor interest in the sector is at an all-time high. “In terms of appraisal professionals, there is a supply and demand issue,” explains Meghan Czechowski, managing director and valuation lead for Apprise by Walker & Dunlop. She notes that the industry has greater demand for valuation than it has qualified appraisers. “Apprise is ensuring that we can support our appraisal staff and our local market experts with a tech-enabled process so that they can do their jobs more efficiently and get the values (and market information in general) into our clients’ hands as quickly as possible,” she adds. Czechowski focuses on the ways that web-based multifamily valuations can be streamlined to create a faster and more complete picture of properties. Multifamily experts need information on properties/parcels that comes from “multiple industry-standard resources such as Yardi, REIS, RCA and public record aggregators.” Parcel-level information, unit mix metrics, sale leads, land records and site assessment information are all available through Apprise’s platform via a single sign on to a dashboard that reflects information that is constantly being updated. This means that when an expert uses this platform and picks up the phone to confirm about …

February 17, 2022

Florida Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Secures $67M in Financing for Multifamily Property in Davie, Florida

by Julia Sanders February 7, 2022

DAVIE, FLA. — Walker & Dunlop has secured $67 million in financing for Zona Village, a 201-unit multifamily property in Davie. Tom Melody, Eric McGlynn, Jonathan Paine and Wes Wallace of Walker & Dunlop arranged the 10-year, non-recourse loan with a fixed interest rate for the borrower, Ceiba Groupe, to replace the existing construction financing. An undisclosed national life insurance company was the lender. Built in 2021, Zona Village offers studio, one- and two-bedroom floorplans, as well as 16,500 square feet of ground-ﬂoor retail space. Unit features include balconies and patios, granite countertops, large soaking tubs, in-unit washers and dryers and large closets. Community amenities include a resort-style pool, conference room, working stations, fitness facilities, onsite pet spa, bike storage, onsite retail and a resident lounge. Located at 3890 Davie Road, Zona Village is situated less than eight miles from downtown Fort Lauderdale and 22 miles from downtown Miami. The property is also near Interstate 595 and the Florida Turnpike.

February 7, 2022

Meghan Czechowski quote Apprise Multifamily Valuation

Content Partner Features Finance Insight Midwest Multifamily Northeast Southeast Texas Walker & Dunlop Western

Web-Based Multifamily Valuation Enhances Speed, Builds Better Predictions

by Sarah Daniels February 3, 2022

The future of multifamily valuation requires flexibility and the use of technology to process data faster and more reliably. Meghan Czechowski, managing director and valuation lead for Apprise by Walker & Dunlop, spoke to Finance Insight about why multifamily valuations in particular are well suited to a web-based machine learning approach, resulting in faster appraisals with increased reliability. Finance Insight: How does the Walker & Dunlop Apprise program differ from traditional residential valuation programs? Czechowski: We’re focused on multifamily with our tech-enabled process. Most appraisal reports on the commercial side (multifamily included, that is, five units and up) are completed using a web-based database, and those databases are typically blank slates. When you’re entering sale comparables, rent comparables or other data, most people are starting from scratch and usually using an analyst to record that comparable information that then feeds into a database. The Apprise team of appraisal experts uses our Apprise application, which is a proprietary web-based system. It uses the property record database; therefore, it is not a blank slate. It has over 2.5 million multifamily records flowing into it from a public record aggregator and various industry resources like REIS, RCA and Yardi, using direct integration and …

February 3, 2022

Alison Williams Walker Dunlop Small Balance Lending

Content Partner Features Loans Midwest Multifamily Northeast Southeast Texas Walker & Dunlop Western

Small Balance Lending Evolves with Technology

by Sarah Daniels January 25, 2022

The small balance multifamily lending industry is antiquated, leaving thousands of prospective borrowers behind in a booming market. Multifamily property owners need access to fast, reliable quotes and a streamlined approach to financing. The current industry practice of quoting from rate sheets does not present a holistic or dynamic picture for borrowers or lenders. Walker & Dunlop is offering an alternative approach with a new digital lending platform that utilizes machine learning to quickly provide customized quotes for small balance multifamily acquisition and refinance loans. The rapid pace of lending means that borrowers need strategic partnerships with small balance loan experts that provide personalized customer experience backed by the data science capabilities to pull comparables, as well as online tools that can both streamline and inform processes. Sponsored: As the #1 multifamily lender in the U.S., Walker & Dunlop is launching a digital lending platform that will deliver tailored quotes in minutes for acquisitions and refinances. The platform uses machine learning powered by millions of data points from Walker & Dunlop’s proprietary property database to offer clients accuracy, transparency and confidence from kickoff to closing. The State of Small Balance Lending Small multifamily properties account for roughly 85 percent of …

January 25, 2022

Content Partner Development Features Leasing Activity Midwest Multifamily Northeast Southeast Texas Walker & Dunlop Western

2021 Multifamily Housing Market Outlook Shaped by Growth Trends, Housing Prices

by Sarah Daniels December 16, 2021

COVID Disrupts Markets Again The country began breathing a sigh of relief in the second quarter of 2021 as U.S. GDP returned to pre-pandemic levels. With a substantial part of the U.S. population vaccinated, the unemployment rate plummeted, schools began preparing for in-person instruction and restaurants were back in business, again surpassing grocery sales in volume. But just as things seemed to be returning to “normal,” the delta variant of COVID began to spread. New COVID cases turned into rising COVID deaths by August,[1] disrupting supply and demand chains. Consumer confidence, which had been rising since hitting a low in April 2020, dipped to a new low point in August; consumer spending stalled[2], and fewer people traveled by plane[3] or returned to the office[4] that month. While economic growth remains positive, the delta variant, now accounting for almost all new COVID cases[5], again introduced market uncertainty, resulting in a 4 percent drop in stock market pricing in September. However, as COVID cases began declining in mid-September, stock prices began to rise, erasing the September drop in October, and resulting in a 22.6 percent gain for the year. Overall, economists maintain strong economic growth expectations of 6.1 percent GDP growth for …

December 16, 2021

Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $36M Loan for Refinancing of Brooklyn Multifamily Property

by Taylor Williams December 13, 2021

NEW YORK CITY — Walker & Dunlop has arranged a $36 million loan for the refinancing of a 64-unit multifamily property in the Bushwick neighborhood of Brooklyn. Built in 2018, the property consists of 23 studios and 41 two-bedroom apartments with 30 percent of units designated as affordable housing, as well as 14,080 square feet of retail space that is fully leased. Aaron Appel, Michael Diaz, Michael Ianno and Jackson Irwin of Walker & Dunlop arranged the five-year, floating-rate loan through Amherst Capital Management on behalf of the borrower, Cayuga Capital Management.

December 13, 2021

Acquisitions Build-to-Rent Content Partner Features Leasing Activity Midwest Multifamily Single-Family Rental Southeast Texas Walker & Dunlop Western

Multifamily Investment Sales Strong in Southern States; Gaining More Interest in Midwest

by Sarah Daniels December 10, 2021

Multifamily investment benefitted from the uncertainties of the past year, but will the transaction volumes of 2021 be used to gauge the likely outcomes for 2022? Managing directors Todd Stofflet and Jason Stevens of Walker & Dunlop’s Chicago office review 2021 and what the trends of this year indicate for the direction of the industry. REBusiness: What have you seen regarding multifamily investment activity this year? Stofflet: Early in the pandemic, we saw a lot of investment pull away from retail and office, focusing more on industrial and multifamily. In 2021, the multifamily sector has fared very well and a lot of new investors have entered the multifamily market. If you talk to some of our colleagues in the Southeast and the “smile states,” they will tell you that transaction volume has never been higher and the amount of capital chasing these opportunities has never been bigger. Across the country, it has been a very strong year for the sector. REBusiness: Do you think 2021 will be a record year in terms of sales? Stevens: If our pipeline is any barometer for that, the answer is “absolutely,” but it will be market dependent. What you’ll find is that sales in …

December 10, 2021

Loans New York Northeast Office Walker & Dunlop

Walker & Dunlop Arranges $170M Loan for Refinancing of Manhattan Office Building

by Taylor Williams December 3, 2021

NEW YORK CITY — Walker & Dunlop has arranged a $170 million loan for the refinancing of 122 Fifth Avenue, a 300,000-square-foot office building located near Manhattan’s Union Square neighborhood. The property was originally built in 1900 and includes retail space. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian and Michael Ianno of Walker & Dunlop arranged the loan through PCCP LLC. The borrower, Bromley Cos., which has owned the building for more than 40 years, will use a portion of the proceeds to fund capital improvements.

December 3, 2021

Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $160M Refinancing for Multifamily Property in Yonkers, New York

by Taylor Williams November 24, 2021

YONKERS, N.Y. — Walker & Dunlop has arranged a $160 million loan for the refinancing of Sawyer Place, a 438-unit multifamily property located outside of New York City in Yonkers. Built in 2020, the two-building complex features 31,000 square feet of ground-floor retail space, a 553-space parking garage and amenities such as a landscaped terrace, fitness center and an indoor theater. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno and Sean Bastian of Walker & Dunlop arranged the floating-rate, nonrecourse financing, which retires the original construction loan, through Mesa West Capital. The borrower was locally based development and investment firm RXR Realty.

November 24, 2021

Acquisitions Multifamily Texas Walker & Dunlop

Walker & Dunlop Brokers Sale of 200-Unit Multifamily Property in Houston

by Taylor Williams November 9, 2021

HOUSTON — Walker & Dunlop has brokered the sale of The Co-Op at Med Center, a 200-unit multifamily property located within the Texas Medical Center in Houston. Units come in studio, one- and two-bedroom floor plans, and amenities include a pool, fitness center, basketball and volleyball courts, study areas, coffee bar and a dog park. Walker & Dunlop’s Scott Bray, Ryan Epstein and Jennifer Ray represented the seller, Urban Genesis, in the transaction. The buyer was an entity doing business as EAS Houston LLC, plans to implement a value-add program at the property, which was originally built as a hotel and converted to multifamily in 2018.

November 9, 2021

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