Walker & Dunlop Secures $113 Million Acquisition Financing for Class-A Property in Bay Area
Walker & Dunlop has secured $113 million in acquisition financing for Franklin 299, a Class-A multifamily property in the Bay Area. The financing was arranged for Acacia Capital through Fannie Mae, with the deal closing in just 19 days. The 304-unit property, built in 2015, features studio, one-, and two-bedroom residences, including 11 direct-access townhomes. Located in Redwood City between San Francisco and San Jose, the property offers premium amenities including a rooftop deck, fitness center, and swimming pool. The community's strategic location provides access to major employment centers in San Francisco, Oyster Point, the Peninsula, and Silicon Valley.
Walker & Dunlop ha ottenuto 113 milioni di dollari in finanziamenti per l'acquisizione di Franklin 299, una proprietà multifamiliare di Classe A nella Bay Area. Il finanziamento è stato organizzato per Acacia Capital tramite Fannie Mae, con la chiusura dell'accordo avvenuta in soli 19 giorni. La proprietà, composta da 304 unità e costruita nel 2015, offre appartamenti studio, monolocali e bilocali, inclusi 11 townhouse con accesso diretto. Situata a Redwood City, tra San Francisco e San Josè, la proprietà offre servizi di alta qualità, tra cui un'area sulla terrazza, una palestra e una piscina. La posizione strategica della comunità consente l'accesso ai principali centri di lavoro a San Francisco, Oyster Point, nella Penisola e a Silicon Valley.
Walker & Dunlop ha conseguido 113 millones de dólares en financiación para la adquisición de Franklin 299, una propiedad multifamiliar de Clase A en el Área de la Bahía. La financiación fue organizada para Acacia Capital a través de Fannie Mae, cerrando el acuerdo en solo 19 días. La propiedad de 304 unidades, construida en 2015, cuenta con estudios, apartamentos de una y dos habitaciones, incluidos 11 adosados con acceso directo. Ubicada en Redwood City, entre San Francisco y San José, la propiedad ofrece comodidades premium, incluyendo una terraza en la azotea, un gimnasio y una piscina. La ubicación estratégica de la comunidad brinda acceso a los principales centros de empleo de San Francisco, Oyster Point, la Península y Silicon Valley.
Walker & Dunlop는 Bay Area에 위치한 Class-A 다가구 부동산인 Franklin 299의 인수 자금을 1억 1천 3백만 달러 확보했습니다. 이 자금은 Acacia Capital를 위해 Fannie Mae를 통해 마련되었으며, 거래는 단 19일 만에 마무리되었습니다. 304유닛으로 구성된 이 부동산은 2015년에 지어졌으며, 스튜디오, 1베드룸 및 2베드룸 주거 공간이 포함되어 있습니다. 그 중 11곳은 직접 접근이 가능한 타운홈입니다. 이 부동산은 샌프란시스코와 산호세 사이의 레드우드 시티에 위치하고 있으며, 옥상 데크, 체육관, 수영장 등 프리미엄 편의 시설을 제공합니다. 커뮤니티의 전략적 위치는 샌프란시스코, 오이스터 포인트, 반도체 지역, 실리콘 밸리의 주요 고용 센터에 접근할 수 있습니다.
Walker & Dunlop a obtenu un financement d'acquisition de 113 millions de dollars pour Franklin 299, une propriété multifamiliale de Classe A dans la Bay Area. Le financement a été organisé pour Acacia Capital par l'intermédiaire de Fannie Mae, avec la finalisation de l'accord en seulement 19 jours. La propriété, construite en 2015, comprend 304 unités, allant des studios aux appartements d'une et deux chambres, incluant 11 maisons de ville avec accès direct. Située à Redwood City entre San Francisco et San José, la propriété propose des équipements haut de gamme, dont une terrasse sur le toit, un centre de remise en forme et une piscine. L'emplacement stratégique de la communauté permet d'accéder aux principaux centres d'emploi de San Francisco, Oyster Point, la Péninsule et la Silicon Valley.
Walker & Dunlop hat 113 Millionen Dollar für die Akquisition von Franklin 299, einer Class-A Mehrfamilienimmobilie in der Bay Area, gesichert. Die Finanzierung wurde für Acacia Capital über Fannie Mae arrangiert, wobei der Deal in nur 19 Tagen abgeschlossen wurde. Die 304-Einheiten-Immobilie, die 2015 erbaut wurde, bietet Studio-, Ein- und Zweizimmerwohnungen, einschließlich 11 Townhomes mit direktem Zugang. Die Immobilie befindet sich in Redwood City zwischen San Francisco und San Jose und bietet erstklassige Annehmlichkeiten, darunter eine Dachterrasse, ein Fitnesscenter und einen Swimmingpool. Die strategische Lage der Gemeinde ermöglicht den Zugang zu wichtigen Arbeitsstätten in San Francisco, Oyster Point, der Halbinsel und dem Silicon Valley.
- Successfully secured $113 million in acquisition financing
- Demonstrated operational efficiency with 19-day deal closure
- Company originated over $24 billion in debt financing volume in 2023
- Maintains strong position as top provider of capital to U.S. multifamily market
- None.
Insights
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The property's strategic location between major tech hubs and its high-end amenities position it well for stable occupancy and potential rent growth. The deal's structure and swift execution suggest competitive financing terms, which could positively impact Walker & Dunlop's revenue and market share in the institutional lending space.
299 Franklin (Photo: Business Wire)
The Walker & Dunlop Multifamily Finance team, led by Jeff Burns, Chris Botsford, Rene Alvarez, Jeff Conahan, and Matt DeMarche, arranged the financing on behalf of longtime client Acacia Capital. Despite the highly competitive financing landscape, the team identified Fannie Mae as the lender willing to expedite the project with an aggressive offer. The entire process closed in an impressive 19 days with the application being signed on September 27, rate locked on September 30, and deal closing on October 16.
"We were happy to work alongside Acacia to exceed their expectations and close this deal in record time," said Jeff Burns, managing director of Multifamily Finance at Walker & Dunlop. "Our team's swift and strategic approach allowed us to navigate the competitive landscape effectively, ensuring that we not only met but surpassed our client's goals."
Built in 2015, the 304-unit, fully market-rate apartment community consists of fully appointed studio, one-, and two-bedroom residences, including 11 direct-access townhomes, with an overall average unit size of 845 square feet. Amenities include access to a rooftop deck, expansive state-of-the-art fitness center, swimming pool and spa deck, business and resident lounges, bicycle parking, and electric vehicle charging stations.
Located in the heart of the
Walker & Dunlop is one of the top providers of capital to the
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/20241112083143/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.
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