Walker & Dunlop Structures $302 Million in Financing for 10-Property Apartment Portfolio in Connecticut

Rhea-AI Summary

Walker & Dunlop structured $302.24 million in Freddie Mac financing for a portfolio of ten multifamily properties in central Connecticut. The portfolio includes 2,286 units, with over 75% qualifying as affordable housing under FHFA guidelines. Taylor Williams, Managing Director, led the financing for Beachwold Residential. The loan offers an attractive fixed rate and additional proceeds. Walker & Dunlop was the top capital provider to the U.S. multifamily market in 2020 and originated $49 billion in debt financing in 2021, underscoring its strong market position.

Positive

• Structured $302.24 million in financing, enhancing liquidity for Beachwold Residential.
• Over 75% of the portfolio qualifies as affordable housing under FHFA guidelines, potentially attracting investor interest.
• Walker & Dunlop was the top provider of capital in the U.S. multifamily market in 2020, demonstrating strong market leadership.

Negative

• None.

BETHESDA, Md., March 7, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured $302,241,000 in Freddie Mac financing for a portfolio of ten multifamily properties in central Connecticut. The portfolio comprises 2,286 units in total, over 75% of which qualify as mission-driven, affordable housing under Federal Housing Finance Agency (FHFA) guidelines.

Taylor Williams, Managing Director in Walker & Dunlop's Capital Markets group, structured the financing on behalf of Beachwold Residential, a repeat client and family-owned real estate company headquartered in New York City. The team provided support to the client throughout the entire deal process, working to ensure the latest rental rate increases were captured in the appraisal and underwriting processes. The new loan effectively provided the borrower with an attractive fixed rate and additional proceeds.

"Taylor Williams and his team are experts," said Gideon Friedman, CEO of Beachwold Residential. "They provided clear and prescient guidance throughout the process, and their reaction time to any queries we had was exceptional. They are truly professionals when it comes to dealing with this type of transaction."

"It was an honor to be chosen for this transaction by Gideon Friedman and the Beachwold team," Mr. Williams added. "We were able to effectively execute the deal with an excellent rate, thanks to our skilled team and solid partnership with Freddie Mac."

The ten-property portfolio is comprised of a diverse and unique set of communities with construction dates ranging from 1926 to 2008. The oldest property, 278 Main, was originally a schoolhouse, which was converted to apartments. Another distinctive property is Lofts at the Mills, a former mill that was recently converted to loft apartments. Most of the properties within the portfolio are situated in irreplaceable infill locations throughout Connecticut.

Walker & Dunlop was the top provider of capital to the U.S. multifamily market in 2020, and in 2021 the firm originated $49 billion in debt financing volume, including lending over $42 billion for multifamily properties. To learn more about our Capital Markets capabilities and financing options, visit our website.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables 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 make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 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.

FAQ

What is the significance of Walker & Dunlop's $302 million financing?

The $302 million financing structured by Walker & Dunlop is significant as it enables Beachwold Residential to enhance liquidity and manage its multifamily property portfolio effectively.

How many properties are included in Walker & Dunlop's financing deal?

The financing deal by Walker & Dunlop includes a portfolio of ten multifamily properties.

What percentage of the financed properties is affordable housing?

Over 75% of the properties in the portfolio qualify as mission-driven, affordable housing under FHFA guidelines.

Who structured the financing for the multifamily properties?

Taylor Williams, Managing Director in Walker & Dunlop's Capital Markets group, structured the financing on behalf of Beachwold Residential.

What was Walker & Dunlop's debt financing volume in 2021?

In 2021, Walker & Dunlop originated $49 billion in debt financing volume, including over $42 billion for multifamily properties.