Walker & Dunlop Provides Financing for Acquisition
of Converted Historic Property
Commercial lender structures financing f...
of 1

Press Release Example 1

Published on: Mar 4, 2016

Transcripts - Press Release Example 1

  • 1. Walker & Dunlop Provides Financing for Acquisition of Converted Historic Property Commercial lender structures financing for 433 multifamily units at site of former Danvers State Hospital Bethesda, Maryland – July 16, 2014 – Walker & Dunlop, Inc. (NYSE: WD) announced today that Chicago-based senior vice president, Allan Edelson, recently led the team that structured a 7-year, fixed-rate loan in the amount of $70,500,000 under Freddie Mac’s Capital Markets Execution Program (CME) for the acquisition of Avalon Danvers, a 433-unit apartment complex located outside of Boston, in Danvers, Massachusetts. The DSF Group, a Boston based multifamily development and investment firm, purchased the asset. The community will undergo extensive renovations and expansion of the amenity spaces. The renovation will include construction of a brand new state of the art health and fitness center, a yoga studio, virtual golf and boxing studio, movie theatre and resident lounge. The community will become part of the DSF signature Halstead brand offering best of class amenities, new cutting edge technology and enhanced resident services. The property was renamed Halstead Danvers. Mr. Edelson commented, “This property has a unique past, and Walker & Dunlop is proud to be a part of its future. By taking the time to understand the borrower’s needs, we were able to secure a 7-year financing that was interest only for term, at a near historic low interest rate. It was a pleasure working with the borrower on this project and we look forward to working with them again in the future.” About Walker & Dunlop 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. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States, securing capital from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Proprietary Capital group develops new financial products and provides institutional advisory, asset management, and investment management services with respect to debt and equity, including bridge financing. Walker & Dunlop, LLC has more than 400 employees located nationwide. For more information about the Company, please visit www.walkerdunlop.com or follow us on Twitter at @Walkerdunlop. Contacts: Investors: Media: Claire Harvey Susan Weber Vice President, Investor Relations Senior Vice President, Marketing Phone: 301/634-2143 Phone: 301/215-5515 charvey@walkerdunlop.com sweber@walkerdunlop.com ###

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