Walker & Dunlop Arranges $146M Refi on Yorba Linda Apartments
Walker & Dunlop, Inc. said Monday it arranged $145,750,000 in first mortgage and preferred equity to refinance Bryant at Yorba Linda, a 400-unit multifamily community. Chris Botsford and Jeff Burns of Walker & Dunlop Capital Markets arranged a senior mortgage loan for Interstate Equities Corporation (IEC).
The loan features a five-year term, fixed rate and full-term interest-only payments. Freddie Mac provided the capital. Walker & Dunlop Capital Markets’ Justin Nelson and PJ Feichtmeier secured preferred equity capital from a leading institutional owner and operator of multifamily communities on behalf of IEC.
“By layering preferred equity on top of a Freddie Mac loan, we were able to deliver the most effective capital strategy,” said Botsford, managing director. “This transaction reflects the ongoing strength of the five-year fixed-rate agency loan market and underscores that clients continue to prioritize five-year fixed-rate paper in the current interest rate environment, with agencies serving as a reliable and strategic source of capital.”
Other News
Charlotte Library Razed, 300 Apartment Units on Way
Northwood Ravin demolished a dated Charlotte public library in order to make way for a 300-unit apartment development. The Charlotte Business Journal reports the plan is to include 21,400 square feet of retail as well. The 4.5-acre south-end property is at 101 Scaleybark Road. The retail component is part of a larger mixed-use development that...
Learn more
Terra, Fortune Ink $220M Key Biscayne Condo Financing
Terra and Fortune International Group secured a $220 million predevelopment loan from Blackstone Real Estate Debt Strategies for their planned ultra-luxury condominium development on the former Silver Sands Beach Resort property at 301 Ocean Drive in Miami’s Key Biscayne. Walker & Dunlop Capital Markets Institutional Advisory, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean...
Learn more
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 units nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout