Manufactured Housing Portfolio
Florida and California
$119M Manufactured Housing Portfolio

Walker & Dunlop recently originated and closed four loans totaling $119,738,000 secured by 1,404 sites in four manufactured home community properties in Florida and California. The transactions were funded by Walker & Dunlop as a Fannie Mae DUS® lender. Walker & Dunlop was able to refinance an existing credit facility within 35 days of receiving the signed application. Financing was arranged by Will Baker.

Cottages of Lubbock
Lubbock, Texas
$34.4MM, Acquisition

Walker & Dunlop provided a $34,434,000 acquisition loan for Cottages of Lubbock. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 75 percent loan-to-value with a 1.30x debt-service coverage ratio. The cottage-style student housing property type is an emerging trend at universities across the country because it provides students with an alternative to conventional apartment buildings and a superior amenities package. Financing was arranged by Will Baker.

Chateau Bayou Apartments
Ocean Springs, MS
$5.5MM, Acquisition Loan

Walker & Dunlop negotiated a $5,500,000 loan for Chateau Bayou, structured with a 7-year capped arm and a 30-year amortization, and underwritten to an 80 percent loan-to-purchase. The borrower selected the Freddie Mac Capped ARM program with a float over the 1-Month LIBOR. Chateau Bayou is a 122-unit, garden multifamily property and was 95% leased at closing. Financing was arranged by Stephen Farnsworth.

Point View Apartments
Los Angeles, California
$5.3MM, Refinance Loan

Walker & Dunlop provided a $5,351,000 refinance loan for Point View Apartments located in Los Angeles, California. The loan was structured with a 7-year term and a 30-year amortization. The loan was underwritten to a 76 percent loan-to-value with a 1.25x debt-service coverage ratio. Walker & Dunlop was able to close the transaction within 45 days. Financing was arranged by Jay Thomas.

Cottonwood Ranch Apartments
Albuquerque, New Mexico
$23.7MM, Refinance Loan

Walker & Dunlop provided a $23,790,000 refinance for Cottonwood Ranch located in Albuquerque, New Mexico. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 65 percent loan-to-value with an 1.48x debt-service coverage ratio. Financing was arranged by Jeff Burns and Verne L. Murray III.

Ventura Lakes MHC
Punta Gorda, Florida
$9MM, Refinance Loan

Walker & Dunlop provided a $9,000,000 refinance loan for Ventura Lakes Manufactured Housing Community located in Punta Gorda, Florida. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 65 percent loan-to-value with a 1.30x debt-service coverage ratio. Ventura Lakes MHC, is an age-restricted, 55+ manufactured housing community built in 1999 and located approximately one hour south of Sarasota, Florida. Financing was arranged by Andrew Tapley.

The Hunt Apartments
Oklahoma City, Oklahoma
$7.5MM, Acquisition Loan

Walker & Dunlop provided a $7,540,000 loan for The Hunt Apartments located in Oklahoma City, Oklahoma. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to an 80 percent loan-to-value with a 1.25x debt-service coverage ratio. Walker & Dunlop was able to underwrite, rate lock and close the transaction within 41 days of receiving the application. Financing was arranged by Andrew Tapley.

Ritz Plaza Apartments
New York, New York
$150MM, Refinance Loan

Walker & Dunlop provided a $150,863,000 refinance loan for Ritz Plaza Apartments located on west 48th Street in midtown Manhattan. The Ritz Plaza is a 479-unit, luxury high-rise apartment building, built in 1989 and renovated in 2008. The loan was structured with a 10-year term, 2 years interest only, and a 30-year amortization. The loan was underwritten to a 66 percent loan-to-value with a 1.25x debt-service coverage ratio. Financing was arranged by Drew Anderman.

Pinelake Garden Estates
Stuart, Florida
$21MM, Refinance Loan

Financing was arranged by Will Baker.

Kloshe Illahee
Federal Way, Washington
$17.5MM, Refinance Loan

Financing was arranged by Brendan Coleman.

Kirkwood Estates MHC
Cedar Rapids, Iowa
$8.9MM, Acquisition Loan

Financing was arranged by Andrew Tapley.

Jurupa Hills Cascade MHC
Riverside, California
$18.8MM, Manufactured Housing

Financing was arranged by Will Baker.

Sunnybrook Village Apartments
Raleigh, North Carolina
$1.2MM, Refinance Loan

Financing was arranged by Will Baker.

Skidmore Apartments
Saratoga Springs, New York
$2.2MM

Financing was arranged by Will Baker.

Rose Gardens Apartments
Danville, California
$7.5MM, Refinance Loan

Rose Gardens Apartments is an age restricted, Class B garden-style, affordable housing apartment complex built in 1995 and situated on 1.80 acres in Westminster. 100% of the units at Rose Gardens are restricted to tenants making less than 60% of the Area Median Income. Common amenities include two leasing offices, a social room with fireplace and television, crafts room, laundry facilities and a courtyard area. The property was 100% leased at closing. Financing was arranged by Jay Thomas.

Bayberry Farms Apartments
Grandville, Michigan
$6.5MM

Financing was arranged by Jay Thomas.

Amber Court Apartments
Aloha, Oregon
$2.8MM, Conventional Loan

Financing was arranged by Jay Thomas.

Acadia Park Apartments
Houma, Louisiana
$5.4MM: Conventional Loan

Financing was arranged by Andrew Tapley.

Academy Square Apartments
Chicago, Illinois
$13.9MM, Conventional Loan

Financing was arranged by Ted Patch.

Drexelview Club
Philadelphia, Pennsylvania
$4.7, Refinance Loan

The loan was structured with a 10-year term with 9.5-years yield maintenance and a 30-year amortization. The loan was underwritten to an 80% percent loan-to-value with a 1.25x debt-service coverage ratio. The lender exercised the DUS ERL execution in order to take advantage of low interest rates. Financing was arranged by Jay Thomas.

Braden Creek Apartments
Tulsa, Oklahoma
$5.6MM, Conventional Loan

Financing was arranged by Darrell Moore.

North Park Apartments
Chevy Chase, Maryland
$52MM, Streamline Refinance Loan

Walker & Dunlop provided a $52,000,000 streamline refinance loan for North Park Apartments. The loan was structured with a 10-year term with 9.5 yield maintenance and 2-years interest only, followed by a 30-year amortization. The loan was underwritten to a 70 percent loan-to-value with a 1.25x debt-service coverage ratio. Despite extreme volatility in the current real estate market, Walker & Dunlop was able to process the loan from start to closing in less than 41 days from the signed application. Financing was arranged by Benjamin Krosin and Ted Patch.

The Radian
Philadelphia, Pennsylvania
$58MM, Permanent Loan

Walker & Dunlop provided a $58,500,000 Fannie Mae loan for The Radian. The loan was structured with a 5-year term, 2-years interest only and a 30-year amortization. The loan was underwritten to a 65 percent loan-to-value with a 1.40x debt-service coverage ratio. The Radian is a fourteen-story, 154 unit high-rise student apartment building and retail center located within easy walking distance to the University of Pennsylvania campus. Financing was arranged by Darrell Moore.

Alize
Aliso Viejo, California
$60MM, Acquisition Loan

Walker & Dunlop provided a $60,000,000 conventional loan for Alize located in Aliso Viejo, California. The loan was structured with a 10-year term with 2 years interest only and a 30-year amortization. The loan was underwritten to an 80 percent loan-to-value with a 1.26x debt-service coverage ratio. Financing was arranged by Verne L. Murray III.

300-304 Arch Street Apartments
Philadelphia, Pennsylvania
$2.5MM, Refinance Loan

300 - 304 Arch Street Apartments is a class B 5-story mid-rise apartment building with 26 residential units and 8 retail spaces. The loan was structured with a 10-year term and a 30-year amortization. Financing was arranged by Patrick Boyle.

Tanglewood MHC
Sebring, Florida
$53MM, Acquisition Loan

Walker & Dunlop provided a $53,000,000 acquisition loan for Tanglewood MHC located in Sebring, Florida. The loan was structured with a 10-year term, 2 years interest only, and a 30-year amortization. The loan was underwritten to a 70 percent loan-to-value. Walker & Dunlop rate locked within 10 days of receiving the signed application, enabling the borrower to take advantage of the Early Rate Lock (ERL) feature of the Fannie Mae DUS program shortly before a significant increase in interest rates. Financing was arranged by Will Baker.

Arbor Pointe Apartments
Sacramento, California
$12.8MM, Acquisition Loan

Arbor Pointe Apartments, is a 264-unit, garden style three story apartment complex, located in a residential subdivision of Wilmington. The loan was structured with a 5.667-year fixed, plus one-year term and a 30-year amortization. The Walker & Dunlop team locked the rate with in two business days of receiving the application Financing was arranged by Jeff Burns.