WALKER & DUNLOP SECURES $33.4M IN FINANCING FOR ARDEN VILLAS
ORLANDO, FLA. — Walker & Dunlop Inc. has provided $33.4 million in acquisition financing for Arden Villas, a 336-unit apartment complex in Orlando. Stephen Farnsworth of Walker & Dunlop’s New Orleans office led the team that structured the financing for repeat sponsor Pollack Shores and its joint venture equity partner, DOME Equities. The loan features a 10-year fixed-rate term with four years interest only at 80 percent LTV under Freddie Mac’s Capital Markets Execution (CME) program. The interest rate was locked when the 10-year U.S. Treasury was at a then 12-month low of 2.5 percent, according to Walker & Dunlop.