Walker & Dunlop Lends $94M for Midtown Affordable Housing Purchase

  • Nov. 28, 2017
  • Commercial Observer

Standard Communities has financed its acquisition of a historic affordable housing building in Hell’s Kitchen with a $94 million loan from Walker & Dunlop, according to an announcement from the lender. The Bethesda, Md.-based financing company provided the 35-year, fixed-rate, fully amortizing loan with the backing of the Department of Housing and Urban Development‘s Section 223(f) program, which insures mortgage loans to facilitate the purchase of multifamily housing.

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