Bethesda, Maryland – March 22, 2017
Walker & Dunlop, Inc. (NYSE: WD) announced today that it structured a $13,521,000 acquisition loan for Alexander Pointe, a Class B, garden-style apartment complex in the Jacksonville, Florida suburb of Orange Park.
Alexander Pointe marks the fourth execution that Walker & Dunlop’s Andrew Tapley and Alexandra Huffman have originated for Capital Square (the “Borrower”) in the past seven months, the details of which are included in the table below. The origination team arranged the loan using Fannie Mae’s Green Rewards program at a 65 percent loan-to-value with a 10- year, fixed rate term and five years of interest-only payments. The Borrower used the Delaware Statutory Trust (“DST”) structure to permit its investors to acquire interests in the property in a tax-deferred exchange under Section 1031 of the Internal Revenue Code.
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Alexandra Huffman, assistant vice president in the Multifamily Finance group at Walker & Dunlop, commented, “It’s always a pleasure working with Louis Rogers, Seth Harris and the Capital Square team. The Borrower was able to utilize Fannie Mae’s Green Rewards program to obtain a new loan with very attractive terms.”
Chief Executive Officer of Capital Square, Louis Rogers, remarked, “Alexandra Huffman provided the best execution on a complex multifamily acquisition loan we have seen in years. The team at Walker & Dunlop are experts in their field. They made every step of the process work in an effortless, cost-effective, and timely manner.”
“In spite of our complicated DST entity structure, the professionals at Walker & Dunlop were able to guide Capital Square through the intricacies of agency financing without a hitch,” Mr. Rogers continued. “Alexander Pointe was our fourth loan with Walker & Dunlop and the first one to benefit from Fannie’s Green Energy Rewards Program. The Green Program was a win – win, a lower interest rate on the loan and lower utility costs for the project. Walker & Dunlop exceeded Capital Square’s goals and closed on time and under budget—another successful loan execution. Well done!”
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.