BETHESDA, MD - Walker & Dunlop, Inc. announced that through its subsidiary, Walker & Dunlop, LLC provided a $177,000,000 loan secured by the Waterfront at Pu'uloa, a residential community located in Honolulu, Hawaii, on June 27, 2011. The loan was structured as a floating rate financing with 5-years interest only. The loan contains a flexible pre-payment option and is structured to allow the partial release of collateral during the loan term.
The Waterfront at Pu'uloa is a 1,449 unit residential community divided into three oceanfront neighborhoods. Common amenities include a fitness center, community center, seven playgrounds, two basketball courts, two tennis courts, three sand volleyball courts, a co-operative childcare center and teen recreational center. In addition, the community offers an elementary school, a marina with 33 docking stations, a picnic area with grills, maintenance warehouse and a coffee shop.
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading providers of commercial real estate financial services in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS™, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups of Walker & Dunlop are focused on lending to property owners, investors, and developers of multifamily properties across the country. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States. Capital for this financing comes from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investment group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity.
Source: Walker & Dunlop