Bethesda, Maryland – July 13, 2016
Walker & Dunlop, Inc. (NYSE: WD) announced today it originated a $15,300,000 construction loan for Town Club at the Brewery, a 118-unit, market rate apartment community in Milwaukee, Wisconsin.
Listed on the National Register of Historic Sites, the development is in the heart of the former Pabst Brewery Company campus which is an emerging downtown master planned neighborhood called the “Brewery.” The project is the redevelopment of the malt elevator and malt house into 118 loft style apartments which will highlight the historic features of the building. The “Brewery” has been recognized as having completed pre-review approval at the Platinum level by the United States Green Building Council.
Justin Nelson, vice president, led the Walker & Dunlop team. The loan was structured as a non-recourse construction to mini-perm loan. Mr. Nelson stated, “This project was truly a unique transaction to finance, as it involved several layers of financing including historic tax credits. The Walker & Dunlop team was thrilled to work on such an historic redevelopment project and be part of the transformation of this historic Milwaukee neighborhood.”
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.