BETHESDA, Md., Sept. 14, 2018 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it structured $69,939,000 in Fannie Mae financing for the
acquisition of three multifamily properties: Ivy Commons
Apartments in Atlanta,
Georgia; Axis 147 and Mayton Transfer Lofts,
both located in the Richmond,
Virginia metropolitan area.
Andrew Tapley and Alexandra Huffman of Walker & Dunlop's
Multifamily Finance group led the team in arranging acquisition
financing for the borrower, Capital Square 1031. Drawing on their
deep understanding of Fannie Mae's programs, the team was able to
rate lock two of the loans in less than 14 days from application
and close one financing within 30 days. The team's ability to
swiftly provide debt solutions allowed the borrower to execute on
its business plan of growing a robust multifamily portfolio in the
Southeast.
Each of the three properties in the portfolio are well-located
assets with highly regarded local schools, shopping centers, dining
options, entertainment venues, as well as public transportation and
major thoroughfares to access neighboring employment hubs.
"The team at Walker & Dunlop provides a seamless approach to
loan underwriting. They are fast, efficient, and practical. We are
all on the same page and are able to close loans in a timely
manner. Also, the Green Rewards Program is a powerful value-add
with the Fannie Mae loan program. We can't imagine ever going with
anyone except Walker & Dunlop; the quality, service, and
pricing are that good," said Louis
Rogers, founder and CEO of Capital Square 1031.
"We were pleased to partner with Capital Square 1031 to provide
financing on yet another great group of investment properties,"
said Mrs. Huffman. "Since the beginning of our relationship in
2016, we've witnessed meaningful growth both in the Capital Square
portfolio and in the broader multifamily landscape – all thanks to
favorable economic conditions, job growth, and rising population in
many markets."
Located in the heart of historic Old Towne Petersburg, Virginia, Mayton Transfer Lofts
was built in 1911 and represented a particularly unique assignment
for the team. The property underwent comprehensive renovations from
2007 to 2012 to transform the industrial asset into a distinctive
multifamily community. The developer maintained the historic
aspects of the property, which now comprises 225 units with exposed
brick, hardwood or concrete floors, high ceilings, and original
beams. Both Mayton Transfer Lofts and Ivy Commons Apartments
qualified for Fannie Mae's Green Rewards program, providing
additional loan savings to the borrower.
Walker & Dunlop is a leader in the multifamily space; the
firm ranked #1 with Fannie Mae for multifamily lending in
2017 and was also ranked within the top five largest multifamily
lenders with Freddie Mac and HUD. For more information
about Walker & Dunlop's financing options and our
capabilities, visit our website and read the following press
releases:
- Walker & Dunlop Arranges $10.8
Million in Financing for Recently-Renovated Multifamily
Property in Downtown Palm Springs,
CA
- Walker & Dunlop Structures $31
Million in Financing for Multifamily Apartments in
Melbourne, FL
- Walker & Dunlop Arranges $52.5
Million Refinance for Newly Constructed Apartment Building
in Brooklyn Heights, New York
About Walker & Dunlop
Walker & Dunlop (NYSE:
WD), headquartered in Bethesda,
Maryland, is one of the largest commercial real estate
services and finance companies in the
United States providing financing and investment
sales to owners of multifamily and commercial properties.
Walker & Dunlop, which is included in the S&P SmallCap 600
Index, has over 650 professionals in 29 offices across the nation
with an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.