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.

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.

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.

Moab Regional Hospital
Moab, Utah
$29.9MM, Construction Loan

The new construction of this 17-bed hospital will replace the current facility which was built in 1957 and designed for inpatient care. It cannot support the hospital’s current volume of outpatient activity and no longer meets Utah hospital construction licensing standards. By insuring the mortgage loan, FHA is enabling Moab Valley Healthcare to obtain lower cost financing, saving the hospital an estimated $9.6 million in interest expense over the life of the loan. Financing was arranged by Jeff Burns and Verne L. Murray III.

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

Financing was arranged by Darrell Moore.

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

Financing was arranged by Brendan Coleman.

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

Financing was arranged by Will Baker.

Quarry Lake at Greenspring
Baltimore County, Maryland
$13.5MM, Permanent Loan

Quarry Lake at Greenspring is a 73,047 square foot, class A multi-tenant office property. Quarry Lake at Greenspring is a residential, retail, and office community built around a 40-acre lake on the site of a former mineral quarry. Walker & Dunlop arranged over $69 million in construction and permanent financing for the entire commercial and retail component of the Greenspring Development. Financing was arranged by Ted Hermes and J. Tyler Blue.

950 Wind River Lane
Gaithersburg, Maryland
$7.8MM, Acquisition Loan

Working in concert with the seller of the property, the borrower, Broad Street Ventures, LLC, simultaneously executed a 10-year lease agreement with MedImmune, the Gaithersburg, Maryland-based biotechnology company. MedImmune will occupy the entire building. The loan was structured with a 5-year term and a 25-year amortization. Walker & Dunlop was able to close the loan in less than 60 days and provide the borrower with customized flexibility in prepayment structure. Financing was arranged by Ted Hermes.

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.

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.

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.

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.

Legacy House of Bountiful
Bountiful, Utah
$10M Seniors Housing Refi

Walker & Dunlop provided a $9,933,000 refinance loan for The Legacy House of Bountiful located in Bountiful, Utah. The loan is structured with a 10 year term and 30 year amortization.The loan was underwritten to a 70 percent loan-to-value, and Walker & Dunlop’s access to the MBS market helped to secure a below-market interest rate. This financing enabled the borrower to pay off the existing construction debt on the property in excess of the outstanding unpaid principal balance. Financing was arranged by Brendan Coleman.

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.