Bethesda, Maryland – February 7, 2017
Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today that it structured a $13,725,000 loan for Trinity Village Center, a Class A retail center in Trinity, Florida.
Walker & Dunlop Vice Presidents, Alison Williams and Matt Baldwin, led the origination team, which arranged the ten-year acquisition loan with two years of interestonly payments and a 30-year amortization schedule. The transaction was coordinated for a repeat, Canadabased borrower with a growing retail portfolio throughout the southeastern United States.
Ms. Williams commented, “We were pleased to provide our long-time client with full leverage, non-recourse debt for the acquisition of the 100 percent leased center. The property, which recently stabilized, has great visibility and access along State Road 54 and will continue to serve the significant number of new residents moving into this upscale, growing community.”
Trinity Village Center is a 76,814 square-foot retail plaza built in 2006 and 2007. The center is part of Trinity, a master-planned community within the Tampa Bay submarket featuring upscale residential neighborhoods, schools, parks, paved trails, and recreation and conservation areas. The projected growth rate in the submarket is 8.4 percent over the next five years, with over 8,000 new residential units planned nearby. Trinity Village Center is 100 percent leased by 28 national retailers and service providers including AAA Auto Club South, Synovus Bank, Quest Diagnostics, Five Guys Hamburgers, Smoothie King, and Cold Stone Creamery.
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.