Walker & Dunlop Arranges $128 Million for New York City Multifamily Portfolio
Walker & Dunlop has arranged $128 million in financing for the acquisition of nine Manhattan properties in the East Village neighborhood. The portfolio, acquired by RYCO Capital, includes 171 residential units and 22 retail units, totaling 153,800 square feet. The properties are located along 2nd Avenue between St Marks and East 10th Street.
The New York City apartment market continues to show strong fundamentals, with the submarket maintaining low vacancy rates. The East Village location is attractive to creatives and young professionals, with a submarket vacancy rate of just 1.5%. The properties are near New York University and surrounded by various amenities.
Derby Copeland Capital provided the interest-only floating rate bridge loan for this acquisition. In 2023, Walker & Dunlop's Capital Markets group sourced nearly $12 billion from non-Agency capital providers.
Walker & Dunlop ha strutturato un finanziamento di 128 milioni di dollari per l'acquisizione di nove proprietà a Manhattan nel quartiere East Village. Il portafoglio, acquisito da RYCO Capital, include 171 unità residenziali e 22 unità commerciali, per un totale di 153.800 piedi quadrati. Le proprietà si trovano lungo la 2nd Avenue tra St Marks e East 10th Street.
Il mercato degli appartamenti di New York City continua a mostrare solidi fondamentali, con il sottobacino che mantiene tassi di vacanza bassi. La posizione dell'East Village è attraente per i creativi e i giovani professionisti, con un tasso di vacanza del sottobacino di solo l'1,5%. Le proprietà sono vicine alla New York University e circondate da varie comodità.
Derby Copeland Capital ha fornito il prestito ponte a tasso variabile solo interesse per questa acquisizione. Nel 2023, il gruppo Capital Markets di Walker & Dunlop ha reperito quasi 12 miliardi di dollari da fornitori di capitale non di agenzia.
Walker & Dunlop ha organizado un financiamiento de 128 millones de dólares para la adquisición de nueve propiedades en Manhattan en el barrio East Village. La cartera, adquirida por RYCO Capital, incluye 171 unidades residenciales y 22 unidades comerciales, totalizando 153,800 pies cuadrados. Las propiedades están ubicadas a lo largo de 2nd Avenue entre St Marks y East 10th Street.
El mercado de apartamentos de Nueva York continúa mostrando sólidos fundamentos, con el submercado manteniendo bajas tasas de vacantes. La ubicación de East Village es atractiva para creativos y jóvenes profesionales, con una tasa de vacantes del submercado de solo el 1.5%. Las propiedades están cerca de la Universidad de Nueva York y rodeadas de varias comodidades.
Derby Copeland Capital proporcionó el préstamo puente a tasa flotante solo de interés para esta adquisición. En 2023, el grupo de Mercados de Capital de Walker & Dunlop obtuvo casi 12 mil millones de dólares de proveedores de capital no de agencia.
Walker & Dunlop은 1억 2800만 달러의 자금을 마련했습니다 이 자금은 맨해튼의 아홉 개 부동산 인수에 사용됩니다. 포트폴리오는 RYCO Capital에 의해 인수되었으며, 171개의 주거 유닛과 22개의 상업 유닛을 포함해 총 153,800 제곱피트입니다. 이 부동산들은 St Marks와 East 10th Street 사이의 2번가에 위치해 있습니다.
뉴욕시 아파트 시장은 견고한 기초를 보여주고 있으며, 이 구역은 낮은 공실률을 유지하고 있습니다. 이스트 빌리지 위치는 창의적인 사람들과 젊은 전문가들에게 매력적이며, 하위 시장 공실률은 단 1.5%에 불과합니다. 이들 부동산은 뉴욕 대학교와 가까워 다양한 편의 시설에 둘러싸여 있습니다.
Derby Copeland Capital는 이번 인수를 위해 이자만 지급되는 변동 금리 다리 대출을 제공했습니다. 2023년, Walker & Dunlop의 자본 시장 그룹은 비기관 자본 제공자로부터 거의 120억 달러를 조달했습니다.
Walker & Dunlop a organisé un financement de 128 millions de dollars pour l'acquisition de neuf propriétés à Manhattan dans le quartier d'East Village. Le portefeuille, acquis par RYCO Capital, comprend 171 unités résidentielles et 22 unités commerciales, totalisant 153 800 pieds carrés. Les propriétés sont situées le long de la 2nd Avenue entre St Marks et East 10th Street.
Le marché des appartements de New York City continue de montrer des fondamentaux solides, le sous-marché maintenant des taux de vacance bas. L'emplacement d'East Village est attrayant pour les créatifs et les jeunes professionnels, avec un taux de vacance du sous-marché de seulement 1,5%. Les propriétés sont proches de l'Université de New York et entourées de diverses commodités.
Derby Copeland Capital a fourni le prêt-bond à taux variable seulement intérêt pour cette acquisition. En 2023, le groupe des marchés de capitaux de Walker & Dunlop a trouvé près de 12 milliards de dollars auprès de fournisseurs de capitaux non-agents.
Walker & Dunlop hat finanzielle Mittel in Höhe von 128 Millionen Dollar arrangiert für den Erwerb von neun Immobilien in Manhattan im Viertel East Village. Das Portfolio, das von RYCO Capital übernommen wurde, umfasst 171 Wohneinheiten und 22 Einzelhandelseinheiten und hat insgesamt 153.800 Quadratfuß. Die Immobilien befinden sich entlang der 2nd Avenue zwischen St Marks und East 10th Street.
Der Apartmentmarkt in New York City zeigt weiterhin starke Grundlagen, wobei der Teilmarkt niedrige Leerstandsraten aufweist. Die Lage im East Village ist für Kreative und junge Berufstätige attraktiv, mit einem Leerstand von nur 1,5% im Teilmarkt. Die Immobilien liegen in der Nähe der New York University und sind von verschiedenen Annehmlichkeiten umgeben.
Derby Copeland Capital stellte für diesen Erwerb den Zinszahlungen nur erforderlichen variablen Brückenkredit bereit. Im Jahr 2023 hat die Capital Markets-Gruppe von Walker & Dunlop fast 12 Milliarden Dollar von nicht-agenturgebundenen Kapitalanbietern akquiriert.
- Arranged $128 million in financing for nine Manhattan properties
- Portfolio includes 171 residential units and 22 retail units in prime East Village location
- Submarket vacancy rate of just 1.5%, indicating strong demand
- Walker & Dunlop sourced nearly $12 billion from non-Agency capital providers in 2023
- None.
Insights
The $128 million financing for a nine-property portfolio in Manhattan's East Village is a significant transaction in the current real estate market. With 171 residential units and 22 retail units, this deal showcases continued investor confidence in New York City's multifamily sector. The interest-only floating rate bridge loan structure suggests a short-term strategy, potentially allowing RYCO Capital flexibility for future refinancing or redevelopment. The 1.5% vacancy rate in the submarket is exceptionally low, indicating strong demand and potential for robust cash flow. However, investors should note that bridge loans often come with higher interest rates, which could impact short-term profitability. The portfolio's prime location near NYU and various amenities positions it well for sustained demand, but also exposes it to market fluctuations in the event of an economic downturn affecting the young professional demographic.
This acquisition highlights the resilience of Manhattan's multifamily market, particularly in trendy neighborhoods like the East Village. The 153,800 square feet portfolio's concentration within a two-block radius suggests potential operational efficiencies and branding opportunities. The area's appeal to creatives and young professionals indicates a stable tenant base, but also potential for high turnover. The
East Village Portfolio (Photo: Business Wire)
The Walker & Dunlop New York Capital Markets team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, and Sean Bastian, acted as exclusive advisors to longtime client RYCO Capital. Derby Copeland Capital provided the interest-only floating rate bridge loan.
The nine properties are located alongside 2nd Avenue between St Marks and East 10th Street. They total 153,800 square feet and consist of 171 residential units and 22 retail units.
"The
The portfolio’s exceptional location is defined by its vibrant and energetic environment, attracting creatives and young professionals in large quantities. With a submarket vacancy rate of just
"We anticipate continued strong demand for prime, renovated, and well-managed units in the East Village," said James Ryan at RYCO Capital. "We are pleased to collaborate with the trusted and skilled team at Walker & Dunlop on this successful acquisition financing."
"It was a pleasure working with RYCO Capital and the Walker Dunlop team to close this loan,” said Jesse Hutcher at Derby Copeland Capital. “We pride ourselves on being a dependable capital partner for property owners and advisors during these challenging times for regional banks. Our belief in
In 2023, Walker & Dunlop’s Capital Markets group sourced capital for transactions totaling nearly
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in
About Derby Copeland Capital
Derby Copeland Capital is a vertically integrated
View source version on businesswire.com: https://www.businesswire.com/news/home/20240815238878/en/
Investors:
Kelsey Duffey
Investor Relations
Phone 301.202.3207
investorrelations@walkeranddunlop.com
Media:
Nina H. von Waldegg
VP, Public Relations
Phone 301.564.3291
info@walkeranddunlop.com
Phone 301.215.5500
7272 Wisconsin Avenue, Suite 1300
Source: Walker & Dunlop, Inc.
FAQ
What is the value of the financing arranged by Walker & Dunlop (WD) for the Manhattan properties?
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What is the current vacancy rate in the submarket where Walker & Dunlop (WD) financed the Manhattan properties?
Who provided the bridge loan for the Manhattan properties financed through Walker & Dunlop (WD)?
