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CARY, N.C. — Walker & Dunlop has provided a $20.5 million loan for the refinance of Colonial Village Apartments in Cary. Built in 1995, the 319-unit property offers an outdoor swimming pool, a heated indoor swimming pool, a fitness center, tennis courts, sand volleyball courts, a playground, dog walking areas, barbecue grills and an on-site leasing center. The property was 92.4 percent leased at the time of closing. The 7-year term loan has 2 years interest only and a 30-year amortization schedule. The loan was underwritten to a 76 percent loan-to-value with a 1.25x debt-service coverage ratio. Bat Barbara of Medalist Capital originated the loan. Ted Patch and Brendan Coleman led the Walker & Dunlop team in the transaction.