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Walker & Dunlop Structures $52 Million in Bridge Financing and Subsequent HUD Loans for North Carolina Multifamily Communities

Walker & Dunlop Structures $52 Million in Bridge Financing and Subsequent HUD Loans for North Carolina Multifamily Communities
Written by Publishing Team

BETHESDA, Md.And January 10 2022 /PRNewswire/ — Walker & Dunlop, Inc. Today it is organized $52606500 in finance Stone Gate Apartments And Lake view apartments, multi-family property located in Spring Lake, North Carolina.

Walker &  Dunlop Creates $52 Million in Bridge Funding and Post HUD Loans for North Carolina Multi-Family Communities

Walker & Dunlop generates $52 million in bridge financing and post HUD loans for North Carolina multi-family communities

Walker and Dunlop Jeremy Nussbaum And Ryan Moore Financing arranged the bridge for nine months on the company’s balance sheet before structuring separate debts to the Department of Housing and Urban Development (HUD) for each property. The team used the agency’s 223(f) refinancing program to arrange perpetual financing on behalf of their client, the Van Meter Companies. Both communities received a high ENERGY STAR score, enabling Walker & Dunlop to secure a competitive borrower interest rate by taking advantage of HUD’s Green Mortgage Insurance Premium Reduction Program (MIP).

“As a frequent HUD borrower and first-time customer of Walker & Dunlop, we have found Jeremy and Ryan’s quick problem-solving abilities and extensive agency experience to be a huge plus that adds significant value when closing these transactions,” we commented. Philip SpaldingVice President of Corporate Finance, Van Meter. “Van Meter holds investments for the future, and our HUD loans per property have allowed us to secure historically low long-term rates for HUD and amortization, fix debt servicing costs and increase long-term cash flow. Real estate has also recognized the lower ‘green’ MIP rate to qualify under HUD’s energy efficiency requirements. .”

“Our team was selected by the Van Meter Companies due to our ability to complete bridge-to-permanent financing under one roof and provide a seamless borrower experience, and we look forward to working with them again on future transactions,” added Mr. Nussbaum.

About two miles from each other, the Stone Gate Apartments and Village on the Lake are gated communities located near the US Army Base Fort Bragg and within Spring Lake market Fayetteville, North Carolina. Built in 2012, Stone Gate Apartments is a 264-unit garden-style community consisting of 12 apartment buildings. stone gate It offers open concept floor plans including 9-foot ceilings, granite countertops, spacious walk-in walk-in closets, and comfortable garden sinks with separate showers. Community amenities include a fitness center featuring a rock climbing wall, swimming pool, tanning room, and storage units available for rent by residents. Village on the Lake Apartments was built in two phases, the first in 2005 and the second in 2010, and contains 13 apartment buildings. The 300-unit lakeside garden-style community offers 12 floor plans, stunning lake views, and unparalleled features including a car wash center, volleyball court, pool, picnic area, and other amenities.

Walker & Dunlop is the largest provider of capital to the multi-family industry and ranks as the 5th largest HUD lender in United State Based on the Mortgage Bankers Association’s 2020 loan creation rankings. For more information on Walker & Dunlop’s commitment to corporate responsibility, including diversity and inclusion, affordable housing, and green finance initiatives, download our ESG Summary.

Information about Walker and Dunlop

Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multi-family industry in the world. United State And the fourth largest lender on all commercial real estate including industrial, office, retail and hospitality real estate. Walker & Dunlop allows landlords and operators to bring their visions of communities – where Americans live, work, shop and play – to life. The strength of our employees, our leading brand and industry-leading technology make us more insightful and valuable to our customers, providing an unparalleled experience every step of the way. With more than 1,000 employees in every major US market, Walker & Dunlop has been consistently chosen as one of the luckGreat workplaces® It is committed to making the commercial real estate industry more inclusive and diversified while bringing meaningful social, environmental and economic change to our communities.

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SOURCE Walker & Dunlop, Inc.

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