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Walker & Dunlop Capital Markets recently arranged a $75 million loan to refinance North Park Living, a 380-unit, two-story walk-up, garden style multifamily community in North Las Vegas.
Led by Justin Nelson, Eric Norris, PJ Feichtmeier, and Jared Diedrich, the team refinanced the loan on behalf of SRB Living LLC, and arranged the floating-rate interest-only permanent debt loan from Benefit Street Partners.
“We are pleased to announce the successful closing of North Park Living, with financing arranged by Walker & Dunlop on behalf of SRB Living and provided by Benefit Street Partners,” said Norris, director at Walker & Dunlop. “The transaction delivers flexible, short-term capital that enables the sponsor to complete lease-up and stabilize the property, while also highlighting the continued liquidity in the bridge market and the collaborative efforts of both sponsor and lender in crafting a creative solution for a complex deal.”