Walker & Dunlop Provides $163M in Multifamily Loans

BETHESDA, MD - Walker & Dunlop, Inc. announced that its subsidiary, Walker & Dunlop, LLC provided $163,816,000 in financing for four multifamily properties in Connecticut on behalf of Principal Management Partners on December 23, 2011. Hoyt Bedford Apartments and Morgan Manor Apartments are both located in Stamford; Seramonte Apartments is located in Hamden; and Montoya Apartments is located in Branford.

Each of the refinance loans were structured with a 7-year term with 2-years interest only and a 30-year amortization under Freddie Mac's Capital Markets Execution Program (CME). Hoyt Bedford Apartments was underwritten to a 79.9 percent loan-to-value; Morgan Manor Apartments was underwritten to an 80 percent loan-to-value; Seramonte Apartments was underwritten to a 79.2 percent loan-to-value; and Montoya Apartments was underwritten to an 80 percent loan-to-value.

Hoyt Bedford Apartments is a 349-unit mid-rise residential development situated on over seven acres that offers studios, one- and two-bedroom units. Morgan Manor Apartments is comprised of 238 residential units and six professional units in two high-rise buildings, situated on over two acres. Seramonte Apartments is a 450-unit apartment community situated on over 30 acres that offers 19 different floor plans in townhouses, garden-style and mid-rise buildings. Montoya Apartments is a 133-unit garden-style development that offers multiple floor plans in one- and two-bedroom models.

Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. 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(TM), 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.