Park at Westover Hills

Walker & Dunlop Capital Markets Real Estate Finance recently arranged a $46.5 million loan to refinance the recently completed Park at Westover Hills Apartments, a 372-unit Class A+ property located in San Antonio, Texas.

Led by Stuart Wernick, Drew Garrison, Steve Mentesana, and Matt Mentesana, the team arranged the refinancing on behalf of GenCap Partners LP. Walker & Dunlop Investment Partners (WDIP), led by Geoff Smith and Mike Dunsheath, provided the floating-rate interest-only bridge loan.

“The Park at Westover Hills is located in San Antonio’s Far West submarket, one of the city’s fastest-growing areas,” said Wernick, SVP and managing director at Walker & Dunlop. “While recent deliveries have temporarily pressured fundamentals, the development pipeline has slowed significantly, with only two properties under construction. Against this backdrop, we were pleased to arrange the transaction and provide the capital, leveraging Walker & Dunlop Capital Markets and WDIP’s integrated platform to deliver a seamless, one-stop solution for the client.”
 
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