WALKER & DUNLOP ARRANGES TWO FANNIE MAE LOANS

HOLBROOK, N.Y., AND MARLBOROUGH, MASS. — Walker & Dunlop has arranged a total of $34.3 million in Fannie Mae financing for two multifamily communities in New York and Massachusetts. The first loan totaled $23 million and will be used to refinance Saddle Rock, a 310-unit community located in Holbrook. Occupancy was 93 percent at the time of closing. The loan carries a 5-year term with interest-only payments. It had a 46 percent loan-to-value ratio and a 1.77x debt-service coverage ratio. The second loan totaled $11.3 million and will refinance Design Pak Lofts, a 95-unit community located in Marlborough. The community was 99 percent leased at the time of closing. The loan carries a 10-year term, a 30-year amortization schedule, a 71.5 percent loan-to-value ratio and a 1.25x debt-service coverage ratio. Drew Anderman led the Walker & Dunlop team for each deal. Alan Perlmutter of GCP Capital Group originated the first loan, and David Fisher of Meridian Capital Group originated the second loan.