Walker & Dunlop Completes Sale and Financing for Prime Houston Property
Walker & Dunlop, Inc. announced the completion of the sale and acquisition financing for Flats at West Alabama, a 304-unit midrise apartment in Houston's River Oaks neighborhood. The acquisition was facilitated by Ryan Epstein and Jennifer Ray representing the seller Wood Partners, with financing structured through Fannie Mae for the buyer, Capital Square. The property benefits from a significant rent growth of 15.5% in the past three months and 19.4% over the last year, positioning it for strong performance amid the Houston area's growth. Walker & Dunlop reported $19.3 billion in property sales in 2021.
- Successfully completed sale and financing for Flats at West Alabama.
- Property located in Houston's River Oaks, a premium area.
- Significant rent growth of 15.5% in the last three months and 19.4% over the last year.
- Walker & Dunlop's property sales volume increased by 214% in 2021.
- None.
HOUSTON, June 8, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it completed the sale and structured acquisition financing for Flats at West Alabama, a 304-unit midrise apartment community located in Houston's most premium neighborhood, River Oaks.
Walker & Dunlop's Ryan Epstein and Jennifer Ray represented the seller, Wood Partners, in the disposition of Flats at West Alabama. Alexandra Huffman structured the acquisition financing through Fannie Mae on behalf of the buyer, Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments. The team guided the client throughout the whole acquisition process with the goal of capitalizing on the positive asset performance and growth rate in the Houston area. As a result, the new loan effectively provided the borrower with a favorable fixed rate as well as additional revenues.
"The submarket surrounding Flats at West Alabama has seen incredible growth, with Apartment Data Services reporting
Flats at West Alabama provides residents with an elegant living experience, complete with top-tier finishes and ample common spaces. The community is truly differentiated within the local market, featuring premium designs and one-of-a-kind community amenities, such as a resort-style pool with a tanning deck, co-working concept spaces, a club area with an entertainment kitchen, and an impressive sky lounge. Residents of Alta West also benefit from proximity to Downtown Houston, the city's largest employment area with more than 4,100 companies and over 166,000 employees.
Walker & Dunlop is a leader in multifamily property sales, having completed
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.
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