BETHESDA, Md.,
Nov. 13, 2018
/PRNewswire/ -- Walker & Dunlop, Inc.
announced that it provided a $74,746,000 Fannie Mae loan for the
refinancing of Fairways Country Club, a five-star
manufactured housing community (MHC) for seniors aged 55 and above.
Located in Orlando, Florida, the
1,142-pad property is centered around a dedicated golf course and
features custom-built, energy-efficient homes.
Walker & Dunlop's Will Baker,
William Shell,
and Doug McDaniel led the team in
arranging a 10-year, fixed-rate loan for their longstanding client,
Hometown America, LLC. Drawing on their deep understanding of
Fannie Mae's programs, they leveraged Fannie Mae's Streamlined Rate
Lock (SRL) option to lock the rate shortly after receiving the
application and close within 23 days.
Located in Orange County,
just ten miles east of downtown Orlando, Fairways Country Club is situated on
343 acres and is known for its country club feel,
southern hospitality, and emphasis on an active lifestyle. Property
amenities include an 18-hole golf course, three clubhouses,
multiple pools and Jacuzzis, tennis and basketball courts, an
exercise room, and a library.
In addition to its topnotch amenities, the property has a
strong operating history, with occupancy levels above 97.2 percent
since 2008. The senior housing community has experienced rent
growth of at least 3.5 percent annually, and it is positioned in an
area where demographics continue to strengthen demand for high
quality MHC properties.
"Will Baker and the Walker
& Dunlop team have been a trusted partner of Hometown America
for more than 10 years due to their strong relationship with Fannie
and Freddie and their expertise in the MHC asset class," commented
Doug Minahan, Vice President of
Hometown America. "Similar to our experience when they refinanced
the existing loan on Fairways Country Club in 2008, Will and his
team once again delivered terms as promised in an expedited
fashion, going from signed application to closing in less than 30
days."
"Manufactured housing communities are consistently some of
the best performing assets in our portfolio, and Fairways is no
exception," remarked Mr. Baker. "This is one of the most
high-quality manufactured housing communities we've financed, and
we were pleased to work with Hometown again to meet their lending
needs."
Walker & Dunlop is a leader in multifamily lending,
ranking as the #1 Fannie Mae Multifamily Lender
and the third-largest Freddie Mac Multifamily Seller/Servicer
in 2017. The firm is also a top lender in the manufactured housing
space, having completed Freddie Mac's first
manufactured housing transaction in 2014. For more
information about Walker & Dunlop's financing options and our
capabilities, visit our
website.
About Walker & Dunlop
Walker
& Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest
commercial real estate finance companies in the United States. The company provides a
comprehensive range of capital solutions for all commercial real
estate asset classes, as well as investment sales brokerage
services to owners of multifamily properties. Walker &
Dunlop is included on the S&P SmallCap 600 Index and was ranked
as one of FORTUNE Magazine's Fastest Growing Companies in
2014, 2017, and 2018. Walker & Dunlop's 700+ professionals
in 29 offices across the nation have an unyielding commitment to
client satisfaction.
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SOURCE Walker & Dunlop, Inc.