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PHOENIX – Walker & Dunlop has provided a $3,380,000 acquisition loan for the 125-unit Mission Palms Apartments in Phoenix. It includes a 10-year term and a 30-year amortization schedule. The loan was underwritten to a 54 percent loan-to-value and a 1.30x debt-service coverage ratio. Mission Palms, which was built in 1975, was 85% leased at closing. Legacy Capital Advisors' Keaton Merrell originated the loan. Andrew Tapley, senior vice president of multifamily finance, led the Walker & Dunlop team.