Walker & Dunlop

A Rising Tech Titan Takes the Multifamily Spotlight

by Sarah Daniels June 28, 2022

Last year, a city known more for music than multifamily development led the nation in new construction growth rates, with luxury high rises popping up from downtown to the Gulch to along the Cumberland River. Nashville, attracting an abundance of debt and equity funding from sources old and new, is now considered an institutional-grade market. The driving force behind this growth: technology. Today, singers, songwriters and studio artists share the city with a growing number of software developers, systems architects and startup founders — and all of these innovators need a place to live, work, shop and play. Nashville’s tech evolution started from a solid foundation in healthcare, automotive and education, including HCA Healthcare and its associated startups, spinoffs and subsidiaries and an automotive hub that includes North American headquarters for Nissan and Korean tire manufacturer Hankook, as well as EV and battery cell manufacturing plants for GM. Twenty nine institutions of higher education, including Vanderbilt University, further helped develop a strong pipeline of tech talent. This ecosystem and a business-friendly climate have attracted some of the nation’s top tech employers: Amazon, who chose the metropolitan area for its much-coveted Center of Excellence; Oracle, relocating from Austin; and Capgemini, whose …

June 28, 2022

River House & Terra House Nashville Multifamily

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

Walker & Dunlop: Spring Multifamily Market Contends with Inflation, Housing Bubble Fears

by Sarah Daniels June 15, 2022

By Walker & Dunlop’s Research Department Inflation and a New Era of Monetary Tightening Amid 40-year high inflation rates, home prices that have surged by over 40 percent in the past three years and double-digit price increases in basic necessities such as food, gas and electricity, the United States seems to be beset on all sides. Inflation has become the question of the day with little relief even after monetary tightening began earlier in the year. After a quarter point increase in the Federal Reserve target rate in March, the Fed implemented a whopping 50 basis point increase in the target Federal Funds rate in May after April inflation remained at 8.2 percent, near the March high of 8.6 percent.[1] The central bank’s goal is to reduce inflation to an annual rate of approximately 2 percent. The employment base, the Fed’s other prime objective, seems to remain strong. Unemployment (at 3.6 percent in April) remains low and employment growth of 390,000 in May beat economist expectations. The Fed’s job now is to beat inflation and prevent it from becoming embedded in consumer expectations. Why? Because once inflation becomes embedded in expectations, it changes consumer behavior and becomes somewhat of a …

June 15, 2022

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

Small Balance Multifamily Mortgage Lending Approach Requires Education, Tech, Creativity in Structuring Loans

by Sarah Daniels May 26, 2022

Capitalizing on a changing marketplace and employing technology to streamline processes are essential strategies in helping small balance clients meet their goals. Ana Ramos, managing director and regional production head at Walker & Dunlop, emphasizes the importance of speed, creativity and using technology to assist in mortgage lending processes. She also emphasizes the centrality of teamwork, company ethos and technology to put a big emphasis on small balance loans. Walker & Dunlop defines “small loan” as up to $15 million for multifamily properties with five or more units. These clients are usually composed of smaller individual investors who need attention and education when it comes to mortgage lending. “It’s really hard for a large producer to think small, but it’s really easy for small producer to think big,” Ramos says. “It’s difficult for producers who are accustomed to institutional lending, with its higher fees and complex vesting structures to consider the credit parameters that are necessary in small balance loans. Small loans is a niche type of mortgage lending, and it only works if you have a company within a company, like Walker & Dunlop with its dedicated small loan team that works together through application, underwriting and closing.” Tech’s …

May 26, 2022

Loans Midwest Multifamily Ohio Walker & Dunlop

Walker & Dunlop Arranges $59.8M in Construction Financing for Columbus Apartment Complex

by Kristin Harlow May 11, 2022

COLUMBUS, OHIO — Walker & Dunlop Inc. has arranged $59.8 million in debt and equity financing for the construction of Green|House, an apartment project in the Short North Arts District of Columbus. The seven-story development will feature 158 units and 3,700 square feet of retail space. Amenities will include a fitness center, outdoor pool, spa, sauna and community room. The project is the adaptive reuse of an existing building. Kaufman Development is the developer. Jeff Morris, Chad Kiner and A.J. Mangan of Walker & Dunlop arranged the debt through a regional bank and secured a national insurance company as the equity partner. The loan features a fixed interest rate and a three-year term.

May 11, 2022

California Content Partner Features Industrial Retail Walker & Dunlop Western

Los Angeles Industrial, Retail: Overlapping Industries Adapting to Post-Pandemic Change

by Sarah Daniels April 14, 2022

As the pandemic recedes, unusual supply and demand trends have taken root in retail and industrial markets throughout the nation. Factors that caused upheaval even before the arrival of COVID — the changing face of retail due to e-commerce and the growing demand for industrial real estate — continue unabated two years past the pandemic lockdowns. Los Angeles County may act as a bellwether for the rest of the country in retail and industrial trends, especially in high-cost, high-density areas, where these two real estate types often compete for space. Bayard (By) Cartmell, senior director at Walker & Dunlop, Los Angeles, has extensive experience with commercial real estate in the Los Angeles area. He has seen unprecedented demand for industrial space and growing investor interest in retail cap rates in the Los Angeles area. Cartmell sat down with REBusinessOnline to talk about the outlook for industrial and retail in Los Angeles, their intersections and the sector trends he expects to see in the coming year. Los Angeles Industrial — High Demand REBusiness: What are you seeing in terms of demand for industrial space — particularly in Los Angeles? Cartmell: There is currently almost unlimited demand for industrial space, of any size, …

April 14, 2022

Affordable Housing Connecticut Loans Multifamily Northeast Walker & Dunlop

Walker & Dunlop Provides $302.2M Agency Loan for Refinancing of Connecticut Multifamily Portfolio

by Taylor Williams March 8, 2022

BETHESDA, MD. — Walker & Dunlop has provided a $302.2 million Freddie Mac loan for the refinancing of a portfolio of 10 multifamily properties totaling 2,286 units in central Connecticut. The properties have construction dates ranging from 1926 to 2008. About 75 percent of the units have income restrictions that qualify them as affordable housing under FHA guidelines. Taylor Williams led a Walker & Dunlop team that originated the financing on behalf of the borrower, New York City-based Beachwold Residential.

March 8, 2022

Acquisitions Midwest Minnesota Multifamily Seniors Housing Walker & Dunlop

Walker & Dunlop Arranges Sale of Five-Property Seniors Housing Portfolio in Minneapolis

by Kristin Harlow March 3, 2022

MINNEAPOLIS — Walker & Dunlop has arranged the sale of five Class A seniors housing communities in Minneapolis. Minnetonka-based Roers Cos. developed the communities, which Walker Methodist and Jaybird Senior Living operate. The communities opened between 2018 and 2021. The portfolio consists of 567 independent living, assisted living and memory care units. The buyer, an affiliate of Lone Star Funds, will utilize Grace Management to oversee daily operational responsibilities. The sales price was not disclosed. Alex Vice, Joshua Jandris, Brett Gardner and Mark Myers of Walker & Dunlop provided advisory services and facilitated the disposition of the portfolio.

March 3, 2022

Connecticut Loans Multifamily Northeast Walker & Dunlop

Walker & Dunlop Provides Loan for Refinancing of 323-Unit Multifamily Asset in Stamford

by Taylor Williams February 17, 2022

STAMFORD, CONN. — Walker & Dunlop has provided a loan of an undisclosed amount for the refinancing of TMG Anchor Point, a 323-unit waterfront multifamily property in Stamford. The property was built on 17 acres in 2000 and includes a 72-slip marina. TMG Anchor Point houses studio, one-, two- and three-bedroom units ranging in size from 522 to 1,767 square feet. Amenities include a fitness center, business center, media room, theater room, indoor basketball and racquetball courts and concierge services. The borrower was New York City-based investment and advisory firm TMG.

February 17, 2022

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

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

Newer Posts

Older Posts