Assisted Dallas-Fort Worth borrower in acquiring six multifamily properties in Texas
Bethesda, Maryland – March 30, 2017
Walker & Dunlop, Inc. (NYSE: WD) announced today that it arranged loans totaling $99,686,200 for a long-time, repeat borrower to acquire Class B, multifamily properties in Texas. Senior Vice President and Managing Director, Alex Inman, and Vice President, Jon Hyduke, secured the loans with a large regional bank.
The six bridge loans were arranged with three-year terms and attractive interest rates. On behalf of the borrower, Mr. Inman’s team structured the loans at 75 percent loan-to-cost, which provided capital to complete extensive renovations. The properties have a combined 1,795 units and feature various amenities including pools, workout rooms, and basketball courts.
Mr. Inman remarked, “This portfolio is a prime example of how Walker & Dunlop’s prolific platform and expansive suite of financing solutions allow us to meet each borrower’s individual funding needs. After canvassing the market, the most desirable financing option for the borrower ended up being with a regional bank, whose bridge loan included an attractive ‘value add’ component.”
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.