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.
The Radian
Philadelphia, PA
$58.5MM, Permanent
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. Property amenities include a fitness center, community rooms, controlled-access bike room, Internet cafe with a coffee bar in the lobby and a two-story student lounge with a walk-out terrace.
Financing was arranged by
Unknown Producer.
Warehouse Apartments
Chapel Hill, NC
$13.2MM, Acquisition
Warehouse Apartments is a four-story student housing property built in 1999. The loan was structured as a five-year term, with three years of interest only, followed by a 30-year amortization.
Financing was arranged by
Ted Patch.
Brynwood Apartments
Wynnewood, PA
$7.6MM, Refinance
Brynwood Apartments, built in 1948, is a 143-unit garden style apartment complex located in Wynnewood, PA. The loan was structured as a ten-year term with 30-year amortization. The Walker & Dunlop team locked the rate less than one week after receiving the signed application.
Financing was arranged by
Jay Thomas.
Middletown Apartments
Middletown, DE
$12.5MM, Refinance
Middletown Apartments, built in 2007, is a class A, 156-unit, garden apartment complex with a mix of units located in 12 buildings containing 12 units each. The loan was structured as a ten-year term with 30-year amortization. The Walker & Dunlop team locked rate early when the property was approximately 83% occupied in order to take full advantage of low interest rates and closed prior to full stabilization with a letter of credit for the difference between the current loan amount and the stabilized loan amount.
Financing was arranged by
Jay Thomas.
Arbor Pointe Apartments
Wilmington, DE
$4.5MM, Supplemental
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
Jay Thomas.
Shadow Ridge Apartments
La Vista, NE
$9.6MM, Acquisition
Shadow Ridge Apartments is a 276-unit garden-style apartment complex built in 1972 and renovated in 1994. Walker & Dunlop structured the loan with a ten-year term, three years of interest only, and a 30 year amortization.
Financing was arranged by
Jay Thomas.
Acadia Park Apartments
Houma, LA
$5.5MM, Acquisition
Acadia Park Apartments, is a 192-unit, garden style apartment complex built-in 1973. The loan was structured as a ten-year term, two years of interest only, followed by 30-year amortization.
Financing was arranged by
Andrew Tapley.
Vendome Place
San Jose, CA
$12.4MM, Refinance
Vendome Place is a 75-unit high-rise apartment complex built in 2006. The loan was structured as a ten-year term with 30-year amortization.
Financing was arranged by
Will Baker.
The portfolio is owned by a joint venture between The Milestone Group and INVESCO Real Estate. The loan is secured by eight garden-style, class B, multifamily properties totaling 3,000 units in three states. The original credit facility of $322MM was completed in 2005. The current loans were an addition to this credit facility with a series of discounted non-interest bearing advances, and a five-year term with an option to extend for another five years.
Financing was arranged by
Andrew Tapley.
5101 Wisconsin Avenue is a 57,699 square-foot, class A multi-tenant office building. The loan was structured as an eight-year loan term and 25-year amortization.
Financing was arranged by
J. Tyler Blue.
Each of the 11 properties in this portfolio contains a gas station and convenience store. The loan was structured as a 10-year term with 20-year amortization.
Financing was arranged by
Ted Hermes.
Quarry Lake at Greenspring
Baltimore County, MD
$13.5MM, Permanent
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
J. Tyler Blue and Ted Hermes.
Ritz-Carlton Philadelphia
Philadelphia, PA
$65MM, Refinance
The Ritz-Carlton Philadelphia is a 303-room full service hotel located in the heart of Philadelphia’s central business district. The lender, HSBC, was able to offer extremely attractive financing terms including interest only for the loan’s full term. Execution of this financing, in the midst of the current credit markets, was due to the Ritz brand, strong asset quality and exemplary owner sponsorship.
Financing was arranged by
Andrew Coleman.
