Source: Walker & Dunlop / #Multifamily #Finance
BETHESDA, MD – Walker & Dunlop, Inc. announced that it recently provided $174,321,000 in financing for a portfolio of seven properties totaling 1,561 multifamily units located in California. Walker & Dunlop was able to lock rate on the portfolio in less than 30 days and close on the financing within 60 days of receiving the application from the borrower.
Demonstrating speed, agility and comprehensive knowledge of available Fannie Mae programs, the Walker & Dunlop team, led by Senior Vice President, Andrew Tapley navigated through the complex ownership and borrower structures and designed financing to accommodate each property.
The portfolio consists of manufactured housing communities and apartment complexes; three properties are located in Northern California and four properties are located in Southern California. Six of the properties were financed with full-term interest-only loans and one was structured with a five-year interest-only loan.
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial real estate finance companies 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 are focused on lending to property owners, investors, and developers of multifamily properties across the country.