Walker & Dunlop Finances Cortland Partners’ Acquisitions with Two Loans Totaling $111M

ALTAMONTE SPRINGS, FLA. AND DURHAM, N.C. — Walker & Dunlop has closed two loans totaling $111 million to finance Cortland Partners’ acquisitions of two apartment communities in the Southeast. The properties include Camden Renaissance in Altamonte Springs and Arboretum at Southpoint in Durham. The financing comprised two Freddie Mac moderate rehab loans, which Cortland Partners will use to fund the acquisition and renovations. The loans include an initial three-year interest-only period with a floating interest rate, followed by a seven-year, floating-rate loan term with two years of interest-only payments. Stephen Farnsworth of Walker & Dunlop’s New Orleans office arranged the financing.