Latest news with #Walker&Dunlop
Business Wire
3 days ago
- Business
- Business Wire
Walker & Dunlop Secures $91 Million Loan for Blue Rock Village in California
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it arranged $91.45 million in loan proceeds for the refinance of Blue Rock Village, a 560-unit, Class-B, garden-style multifamily property located in Vallejo, California. Walker & Dunlop Multifamily Finance's Bryan Frazier and Blake Hockenbury, arranged the loan on behalf of long-term client, Prime Residential. The team secured a 10-year, full-term interest-only loan at a fixed rate from Freddie Mac. Blue Rock Village is thoughtfully designed to offer residents unmatched convenience and quality of life. Minutes from Blue Rock Springs Golf Course, top-rated schools, popular restaurants, and bustling business centers, this community is ideally situated. Residents also benefit from close access to Kaiser Permanente, as well as cultural, shopping, and entertainment options in nearby San Francisco. 'We're proud to share the successful refinance of a 560-unit multifamily property for a long-standing client we've had the privilege of working with for years,' said Frazier, managing director of Multifamily Finance at Walker & Dunlop. 'This transaction not only strengthens the asset's long-term financial position—it reflects a relationship built on trust, performance, and shared vision. We would like to thank Prime for continuing to put their confidence in our team. It's an honor to support their continued success.' Blue Rock Village was developed in two phases but now functions as a unified, cohesive residential community. The property consists of 41 buildings, 38 of them residential buildings, housing a total of 560 units, including a leasing office, fitness center, and maintenance building, all situated on 35.69 acres. Residents enjoy a variety of amenities, including a spa, swimming pools, dog parks and more. Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. To learn more about our capabilities and financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
Business Wire
01-07-2025
- Business
- Business Wire
Walker & Dunlop Closes $240 Million LIHTC Investment Fund for Affordable Housing Across Ten States
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today the successful closing of Fund 124, a $240 million Multi-Investor Low-Income Housing Tax Credit (LIHTC) Investment Fund aimed at advancing affordable housing solutions in fifteen key markets across the United States. The largest Walker & Dunlop LIHTC fund to-date, Fund 124 will support the development of 18 properties in ten states: California, Texas, Maryland, Utah, Missouri, Michigan, Connecticut, Florida, Idaho, and Kansas totaling 1,701 affordable housing units. This fund will provide critically needed housing while also creating significant local economic impact. The Walker & Dunlop Affordable Equity team, led by Dudley Benoit, Peter Antonopoulos, Elizabeth Ronayne, Caitlin Crowe, Bob Rice, Edward Jenkins, Emily Moraga, and Marcus Law, arranged the fund. Key Highlights of Fund 124: Geographic Reach: The fund supports 18 properties across ten states, strategically targeting markets in need of affordable housing. Developer Expertise: 62% of the fund's developer partners are repeat clients of Walker & Dunlop, underscoring the company's strong relationships with experienced and trusted developers. Debt and Equity Structure: The fund maintains a weighted average hard debt leverage ratio of 32% (as a percentage of hard debt to total development cost), ensuring a balanced capital structure that supports long-term stability. Section 8 Subsidization: 44% of the units in the fund's properties will be subsidized with project-based Section 8 contracts, ensuring long-term affordability for residents. Job Creation & Economic Impact: The development of these properties will create approximately 4,542 jobs and generate an estimated $898 million in economic impact, strengthening local economies and communities. Resident Services & Support: The fund provides essential services such as case management, after-school programs, financial literacy courses, meal programs, and community-based activities to enhance resident well-being. Inclusive Housing Priorities: Set asides are designated for seniors (55+), low-income individuals, and those requiring subsidized housing, with dedicated equity supporting formerly homeless residents and individuals with special needs. 'Fund 124 represents an exciting milestone that will create meaningful and lasting change in communities across the U.S,' said Benoit, senior managing director of Affordable Equity Investor Relations at Walker & Dunlop. 'The fund's focus on affordable housing, along with our long-standing partnerships with experienced developers, underscores our dedication to providing safe, high-quality housing to those who need it most.' Its predecessor, Fund 119, closed last year with $167 million in commitments. The vehicle backed 19 communities encompassing 1,044 units throughout 12 states. Walker & Dunlop, the #2 multifamily finance lender in the US, has a long-standing commitment to affordable housing and continues to invest in its affordable platform to provide clients with unparalleled solutions for all of their needs. The team originated over $6.3 billion in affordable and workforce financing from 2021-2024 through HUD, Fannie Mae, Freddie Mac, and capital markets sources. To date, the platform has raised over $10 billion in LIHTC equity and sold more than 275 affordable properties across 40 states. To learn more about the team's capabilities and financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
Business Wire
30-06-2025
- Business
- Business Wire
Walker & Dunlop Arranged $170 Million Financing for Class A Mixed-Used Project in Downtown Salt Lake City
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it secured $170 million to refinance Post District, a Class A, mixed-use complex containing 580 residential units located in Downtown Salt Lake City, Utah. Walker & Dunlop New York Capital Markets, led by Aaron Appel, Sean Reimer, Keith Kurland, , Adam Schwartz, Dustin Stolly, and Jackson Irwin, served as an exclusive advisor to Bridge Investment Group, with financing provided by Fannie Mae via their near-stabilization program. Developed by joint venture team, Bridge Investment Group, Blaser Ventures and Lowe Property Group as an opportunity zone development, Post District opened in December 2023 and includes five buildings located on the Post District block between 500–600 South and 300–400 West in downtown Salt Lake City. Offering a wide array of layouts – from micro-studios to three-bedroom penthouses – Post District is well versed to cater to multiple different types of residents. The property offers nearly 26,000 square feet of retail space and 498 parking spaces. 'Post District is a dynamic urban redevelopment that reflects the strong demand for thoughtfully designed, mixed-use communities in Salt Lake City's urban core,' said Sean Reimer, managing director of New York Capital Markets at Walker & Dunlop. 'Located at the grand entrance to downtown Salt Lake City, Post District stands as a pioneering example of opportunity zone development, transforming a once-underutilized block of warehouses into a vibrant, premier live-work-play destination.' Community amenities include an 8,000-square-foot gym with cutting-edge equipment, a resort-style indoor-outdoor pool deck and glass infinity-edge spa, a movie theater, golf simulator, dog wash, community electric bikes, game room, multiple rooftop lounges, grill area, coworking lounge, market, and club room. Walker & Dunlop New York Capital Markets also arranged $157.5 million in loan proceeds to refinance Post District in November 2023. Read the previous press release here. Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. About Bridge Investment Group Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $49 billion of assets under management as of March 31, 2025. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies. About Blaser Ventures Blaser Ventures is a Salt Lake City-based real estate developer focused on impact, sustainability, and placemaking. They specialize in Opportunity Zone projects, reuse historic structures, create mixed-income housing, and support local businesses. With over 400 affordable units in progress, Blaser builds long-term, community-enhancing developments that reduce carbon impact and preserve neighborhood character. About Lowe Property Group Lowe Property Group is a Salt Lake City–based, family-owned and vertically integrated real estate development and investment firm. LPG owns and operates over 2,500 residential units and 50,000 sq ft retail, 150,000 sq ft office, with over $1 billion assets under management. Their development arm is constructing 750+ units (>$300 M cap), while their private equity team invests nationally in multifamily and opportunistic assets.
Business Wire
19-06-2025
- Business
- Business Wire
Walker & Dunlop Arranges $106 Million Financing for Second Phase of D.C. Luxury Apartments by WC Smith
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it provided $106.3 million in financing for Agora, a Class A 334-unit high-rise multifamily asset in Washington, DC. Walker & Dunlop multifamily finance, led by Brendan Coleman and Connor Locke, arranged the financing on behalf of the longtime W&D client and Fannie Mae priority borrower, WC Smith. The team secured a rate lock within 24 hours of the signed application, providing a 35-year amortization and 10 years of full-term interest-only payments to ensure a favorable outcome for WC Smith. WC Smith developed Agora as the second phase of The Collective, a premier 1,138-unit apartment community offering unmatched amenities in Washington, D.C.'s vibrant Capitol Riverfront neighborhood. Walker & Dunlop has also arranged financing for the other two phases of The Collective, Park Chelsea, a high-end 429-unit community and, The Garrett, which features 373 apartments and 5,000 square feet of co-working space. "We are honored to work with our partners at WC Smith yet again, a company that has earned a stellar reputation over decades as a trusted multifamily investor, developer, and operator," said Connor Locke, managing director of Multifamily Finance at Walker & Dunlop. "Agora is a standout asset within their exceptional portfolio, and the swift rate lock, secured within 24 hours of the signed application, demonstrates our dedication to providing timely, customized solutions that ensure the best possible outcomes for our clients." Agora is a luxury, 11-story, 334-unit LEED Silver-certified apartment building completed in 2018, located in Washington, D.C.'s vibrant Capitol Riverfront. Part of The Collective, residents enjoy shared access to high-end amenities across the three properties, including a Whole Foods, fitness center, spa rooms, and indoor golf simulator. Steps from Nationals Park, Audi Field, and the Navy Yard, Agora sits in a 500-acre neighborhood recognized by Forbes as one of the world's 'Top 12 Coolest Neighborhoods' for its parks, dining, and strong sense of community. Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. To learn more about our capabilities and financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
Business Wire
17-06-2025
- Business
- Business Wire
Walker & Dunlop Arranges $125 Million Construction Loan for Mixed-Use Property, Cassi in the Miami Design District
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it arranged a $125 million loan to finance the construction of Cassi, a 107-unit mixed-use project located in Miami's acclaimed Design District. Walker & Dunlop New York Capital Markets, led by Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and Michael Stepniewski, were exclusive advisors to the joint venture team that includes Miami Design District Associates, Hunter Pasteur, and The Forbes Company. Amerant Bank led the financing package that also included Bank Hapoalim. 'Cassi Miami benefits from highly favorable zoning, allowing our client to deliver a cohesive and thoughtfully designed development,' said Sean Reimer, managing director of Capital Markets at Walker & Dunlop. 'As Miami's economy continues to thrive and demand for luxury, amenitized spaces grows, we're proud to partner with the sponsorship team and look forward to bringing this exceptional project to life.' The 20-story project includes 161,444 rentable square feet of residential space across a mix of 107 units, averaging 1,509 square feet. Unit types range from one- to three-bedrooms with dens. The amenity-rich project also features 23,000 rentable square feet of retail space and is located at the gateway of the Miami Design District, one of the city's most culturally significant developments, known for world-class art, luxury retail and award-winning restaurants. Legal representation for the transaction was provided by Adam Lustig, Salomé Bascuñan, and Kevin Koushel of Bilzin Sumberg on behalf of the joint venture team, and Mark Somerstein and Amanda Phillips of Greenspoon Marder on behalf of Amerant Bank and Bank Hapoalim. In 2024, Walker & Dunlop's Capital Markets team sourced over $16 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. About Miami Design District The Miami Design District is a one-of-a-kind neighborhood that combines luxury shopping, galleries, museums, design stores, restaurants, and major art and design installations all within an architecturally significant context. The Miami Design District is owned and operated by Miami Design District Associates, a partnership between Dacra, founded and owned by visionary entrepreneur Craig Robins, and L Catterton Real Estate, a global real estate development and investment fund, specializing in creating luxury shopping destinations. As Miami becomes increasingly known for its own rich culture, the growth of the Miami Design District further reflects how the city is deserving of its place on the global stage.
