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Walker & Dunlop Affordable Production recently arranged a $14.5 million loan to refinance Ruth Teague Homes, a 52-unit, Class B midrise apartment community in Los Angeles, CA.
Led by Jeff Kearns, the team arranged the arranged the Freddie Mac 16-year fixed-rate loan with three years of interest-only on behalf of CRCD Partners LLC, the Administrative General Partner of the ownership entity and the entity responsible for the project's development.
“We’re proud to help the lead developer CRCD, and administrative general partner, CRCD Partners LLC (CRCDP) bring this impactful community to life, supporting critical housing for formerly houseless individuals and families, transitional youth, and veterans,” said Kearns, managing director of Affordable Production at Walker & Dunlop. “This effort reflects a strong collaboration between CRCD, CRCDP and the Los Angeles Housing Department, HACLA, the Los Angeles County Development Authority, and the State of California. We’re grateful to our clients and partners for their trust and shared commitment to delivering meaningful, long-term solutions.”
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