Walker & Dunlop Arranges $137 Million Financing for Downtown Boston Community
Walker & Dunlop has arranged $137,288,000 in financing for LUKA on the Common, a 398-unit, 30-story luxury apartment complex in Downtown Boston. The Walker & Dunlop Boston Investment Sales team facilitated the sale of the property from AvalonBay Communities to Carmel Partners. Simultaneously, the Multifamily Finance team secured the acquisition financing through Fannie Mae, structuring it as a five-year, full interest-only loan with an early-rate lock.
The property, formerly known as AVA Theater District, is located in the Boston Common multifamily market and boasts the highest possible walk and transit score of 100. This transaction marks the highest price paid for an apartment complex in the market in over a year, highlighting the strong multifamily fundamentals in Boston driven by supply and employment growth in life sciences and healthcare sectors.
Walker & Dunlop ha organizzato 137.288.000 dollari di finanziamenti per LUKA on the Common, un complesso residenziale di lusso di 398 unità e 30 piani situato nel centro di Boston. Il team di vendita degli investimenti di Walker & Dunlop a Boston ha facilitato la vendita della proprietà da AvalonBay Communities a Carmel Partners. Contemporaneamente, il team di Finanza Multifamiliare ha ottenuto il finanziamento per l'acquisizione tramite Fannie Mae, strutturandolo come un prestito triennale a interessi solo con un'opzione di blocco del tasso anticipata.
La proprietà, precedentemente nota come AVA Theater District, si trova nel mercato multifamiliare di Boston Common e vanta il punteggio massimo possibile per camminabilità e trasporti pubblico di 100. Questa transazione segna il prezzo più alto mai pagato per un complesso residenziale nel mercato in oltre un anno, evidenziando i solidi fondamentali multifamiliari a Boston sostenuti dalla crescita dell'offerta e dell'occupazione nei settori delle scienze della vita e della sanità.
Walker & Dunlop ha organizado 137.288.000 dólares en financiamiento para LUKA on the Common, un complejo de apartamentos de lujo de 398 unidades y 30 pisos ubicado en el centro de Boston. El equipo de ventas de inversiones de Walker & Dunlop en Boston facilitó la venta de la propiedad de AvalonBay Communities a Carmel Partners. Al mismo tiempo, el equipo de Finanzas Multifamiliares aseguró el financiamiento de adquisición a través de Fannie Mae, estructurándolo como un prestamo a cinco años, solo intereses con un bloqueo anticipado de la tasa.
La propiedad, anteriormente conocida como AVA Theater District, se encuentra en el mercado multifamiliar de Boston Common y posee la puntuación máxima posible de caminabilidad y transporte, que es 100. Esta transacción marca el precio más alto pagado por un complejo de apartamentos en el mercado en más de un año, destacando los sólidos fundamentos multifamiliares en Boston impulsados por el crecimiento de la oferta y el empleo en los sectores de ciencias de la vida y de la salud.
Walker & Dunlop은 보스톤 다운타운에 위치한 398세대, 30층 고급 아파트 단지 LUKA on the Common을 위해 1억 3728만 8000달러의 자금을 조달했습니다. 보스턴의 Walker & Dunlop 투자 매각 팀은 AvalonBay Communities로부터 Carmel Partners로의 매각을 원활하게 진행했습니다. 동시에 다세대 금융 팀은 Fannie Mae를 통해 매입 자금을 확보하고 5년짜리 전격 이자 전용 대출로 구조화했으며, 이자율 잠금 옵션을 선행하여 적용했습니다.
이 부동산은 이전에 AVA Theater District로 알려졌으며 보스턴 Common 다세대 시장에 위치하고 있으며, 보행 및 대중 교통 점수는 100으로 최고점을 자랑합니다. 이번 거래는 시장 내 아파트 단지에서 1년 이상 만에 가장 높은 가격으로 기록되었으며, 생명 과학 및 의료 분야의 공급 및 고용 증가로 인해 보스턴의 다세대 기본이 강하게 형성되고 있음을 강조합니다.
Walker & Dunlop a organisé un financement de 137.288.000 dollars pour LUKA on the Common, un complexe d'appartements de luxe de 398 unités et 30 étages situé dans le centre-ville de Boston. L'équipe de vente d'investissements de Walker & Dunlop à Boston a facilité la vente de la propriété d'AvalonBay Communities à Carmel Partners. En parallèle, l'équipe de Financement Multifamilial a sécurisé le financement d'acquisition auprès de Fannie Mae, le structurant comme un prêt à intérêt intégral sur cinq ans avec un verrouillage anticipé du taux.
La propriété, anciennement connue sous le nom d'AVA Theater District, est située sur le marché multifamilial de Boston Common et affiche le score maximal de marche et de transport de 100. Cette transaction marque le prix le plus élevé payé pour un complexe d'appartements sur le marché depuis plus d'un an, soulignant les solides fondamentaux multifamiliaux à Boston soutenus par la croissance de l'offre et de l'emploi dans les secteurs des sciences de la vie et de la santé.
Walker & Dunlop hat 137.288.000 Dollar an Finanzierung für LUKA on the Common arrangiert, einem 398-Einheiten, 30-stöckigen Luxuswohngebäude im Herzen von Boston. Das Walker & Dunlop Boston Investment Sales-Team hat den Verkauf der Immobilie von AvalonBay Communities an Carmel Partners unterstützt. Gleichzeitig sicherte das Multifamily Finance-Team die Akquisitionsfinanzierung über Fannie Mae und strukturierte sie als fünfjährige Vollzinsdarlehen mit einer vorzeitigen Zinsfestschreibung.
Die Immobilie, die zuvor als AVA Theater District bekannt war, befindet sich im Boston Common-Multifamilienmarkt und weist die höchstmögliche Fußgänger- und Verkehrsanbindung mit 100 auf. Diese Transaktion stellt den höchsten Preis dar, der in dem Markt für ein Wohnkomplex in über einem Jahr bezahlt wurde, was die starken multifamilären Grundlagen in Boston unterstreicht, die durch das Wachstum im Angebot und die Beschäftigung im Bereich der Lebenswissenschaften und Gesundheitsversorgung gefördert werden.
- Secured $137,288,000 in financing for a high-value property acquisition
- Facilitated the sale of a 398-unit, 30-story trophy asset in prime Downtown Boston location
- Arranged a favorable five-year, full interest-only loan with early-rate lock
- Transaction represents the highest price paid for an apartment complex in the market in over a year
- Demonstrates Walker & Dunlop's strong position in multifamily property sales and financing
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Insights
The
- Strong market fundamentals: Boston's multifamily sector shows robust demand, driven by supply and employment growth in life sciences and healthcare.
- Premium asset: The 398-unit, 30-story property in Downtown Boston commands a prime location, reflected in its perfect walk and transit scores.
- Attractive financing terms: The five-year, full interest-only loan structure suggests confidence in the property's long-term value and cash flow potential.
- Market leadership: Walker & Dunlop's involvement in both the sale and financing demonstrates their strong position in the multifamily market.
For Walker & Dunlop (WD), this transaction contributes to their impressive
This transaction offers valuable insights into the Boston multifamily market:
- Scarcity-driven growth: existing and future supply is driving rent growth and impacting the for-sale condominium market.
- High-value assets: The sale represents the highest price paid for an apartment complex in the market in over a year, indicating strong investor appetite for premium properties.
- Urban living demand: The property's central location and high walk/transit scores underscore the continued demand for well-located urban multifamily assets.
- Rebranding opportunity: The rebranding from AVA Theater District to LUKA on the Common suggests potential for value-add strategies in prime locations.
For investors, this deal signals confidence in Boston's multifamily market, particularly for high-quality assets in central locations. The transaction also highlights the importance of properties with strong accessibility and urban amenities in driving value in the current market environment.
LUKA on the Common (Photo: Business Wire)
In July, the Walker & Dunlop Boston Investment Sales team, under the leadership of Managing Directors Travis D'Amato and Michael Coyne, facilitated the sale of the property on behalf of the client, AvalonBay Communities, and the buyer, Carmel Partners. Concurrently, the Walker & Dunlop Multifamily Finance team, led by Jeff Burns, secured
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Previously known as the AVA Theater District, the property was rebranded as LUKA on the Common and stands 30 stories tall on a 21,344-square-foot site in the Boston Common multifamily market. The transaction was the highest price paid for an apartment complex in the market in over a year.
LUKA on the Common, centrally situated in
"LUKA on the Common is an exceptional asset and has an enviable location," said Lee Bloch, partner at Carmel Partners. "We want to extend our gratitude to the teams at Walker & Dunlop for their support and expertise throughout this process."
Walker & Dunlop is a leader in multifamily property sales, having completed over
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926633135/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
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