Walker & Dunlop Closes $19.9M Acquisition Loan for Apartment Community in Central Georgia

KATHLEEN, GA. — Walker & Dunlop has closed a $19.9 million acquisition loan for Houston Lake, a 300-unit, Class A apartment complex in Kathleen, roughly 20 miles south of Macon. Dustin Swartz of Walker & Dunlop’s Bethesda, Md., office led the team that structured the 10-year, fixed-rate loan through Freddie Mac’s CME program on behalf of the borrower, Denver-based Miller Frishman Group. The loan features three years of interest-only payments. Approximately 35 percent of the community’s residents are active and civilian military employees at nearby Robins Air Force Base, which is located about 14 miles southwest of Houston Lake. Built in 2008, the property features gated access, walking trails, poolside grills, a clubhouse, fitness center, playground, basketball court and a tennis court.