Walker & Dunlop Provides Financing for 170-Unit Multifamily Property in Suburban Pennsylvania
Walker & Dunlop announced $20.4 million in financing for Fox Ridge Apartments, a 170-unit community in Lebanon, Pennsylvania. This financing was arranged for repeat client Boyd/Wilson, who has secured over $75 million through Walker & Dunlop in six months. The deal features six years of interest-only payments and a fixed rate for a ten-year term, facilitated by the Philadelphia Capital Markets team led by John Banas and Kris Wood. The property is strategically located near essential amenities and provides modern community features.
- Secured $20.4 million in financing for Fox Ridge Apartments.
- Repeat client Boyd/Wilson has previously financed over $75 million in six months.
- Deal structure includes six years of interest-only payments and an attractive fixed rate.
- None.
BETHESDA, Md., Nov. 13, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured
Walker & Dunlop's Philadelphia Capital Markets team, including Managing Directors, John Banas and Kris Wood, as well as Analysts John Wilson, Rhett Saltiel, and Erik DiGirolamo arranged the permanent financing through Fannie Mae. The team structured the deal with six years of interest-only payments and an attractive fixed rate for the ten-year loan term.
Mr. Banas commented, "With nearly 40 years of experience in commercial real estate development and property and construction management, Boyd/Wilson is an extremely strong family-run business with an excellent understanding of the Pennsylvania market. We're pleased to have completed another assignment with their team."
Located in the scenic South Lebanon Township, Fox Ridge Apartments caters to young professionals and families alike. The property is just minutes from outdoor parks, restaurants, and shopping as well as desirable schools, which include Cedar Crest High School, Cedar Crest Middle School, and South Lebanon Elementary. The community also provides residents with ease of access to several neighboring cities, including Harrisburg, Lancaster, and Reading, which are approximately 30 miles away, and York, which is 40 miles away. Fox Ridge features distinct craftsmen architecture with modern community amenities, such as a clubhouse, a fitness room, pet stations, and ample green space. Each unit includes decks or patios and premium fixtures and finishes.
Walker & Dunlop is a leader in multifamily lending, ranking as the largest Fannie Mae DUS® multifamily lender and the 3rd largest Freddie Mac Optigo® lender by volume in 2019. For information about Walker & Dunlop's view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our Driven by Insight information center.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.
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