The Solution
Each property required two types of financing: permanent debt and LIHTC equity. Sourcing each type of financing in a deal’s capital stack typically involves going to multiple investors and lenders resulting in managing different processes, teams and timelines to get to the closing table. Such an approach often results in delays in financing in addition to a heavy investment of the client’s time when trying to bring all of the components together.
By working with the holistic Walker & Dunlop Affordable Housing platform, the client secured permanent debt & LIHTC equity financing in one place for two transactions that closed just weeks apart. Walker & Dunlop teams collaborate internally to ensure clients receive the best possible financing solutions in the most efficient way.
The Result
Both properties are currently under construction. However, the impact of the financing is already being felt, with 986 jobs supported and a total economic impact of $191,607,638. Additionally, the properties will provide onsite supportive services, including life skills, community safety, health screening and nutrition services, recreation, and youth and senior events.
Partnering with Walker & Dunlop on both the debt & equity financing ensured the client a smooth experience from start to finish. The client was able to meet its established closing timeline so they could meet the deadlines of their various stakeholders.
The experts who closed the deal
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