Walker & Dunlop, Inc. announced today that it provided $26,000,000 in acquisition financing for The Reserve at Johns Creek Walk, a Class A multifamily complex located just outside of Atlanta, Georgia, in the Johns Creek suburb.
The loan was closed on behalf of JLL Income Property Trust, a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office, and retail properties located in the United States.
Led by Executive Vice President and Managing Director Jim Cope and Vice President Benjy Krosin, the Walker & Dunlop team navigated the complexities of the institutional investment management program. This included underwriting the loan to REIT standards and securing financing with the appropriate flexibility required by the Trust. Leveraging their deep understanding of GSE programs and extensive experience in the DST space, the Walker & Dunlop team identified Fannie Mae as the ideal lender for the transaction, securing ten-year financing with five years of interest-only payments.
Located less than 30 miles from the Atlanta Central Business District, The Reserve at Johns Creek Walk enjoys easy accessibility to nearby employment centers and is within walking distance of local retail, entertainment, and restaurants. A top choice for area renters, the city of Johns Creek was recently listed as one of Money Magazine’s Top 20 Best Places to Live, thanks to its superior public schools and ample outdoor activities.
Situated on nine acres, the garden-style apartment community comprises 210 units. Amenities include a pool, fitness center, pet spa, playground, car wash, an outdoor kitchen, and picnic areas, as well as a cabana with grill stations and flat-screen TVs. The Reserve at Johns Creek is also located just off of the Johns Creek Greenway Trail.
Walker & Dunlop is a leader in the commercial real estate finance space; the firm is ranked #1 with Fannie Mae for multifamily lending in 2019 and is a top-five multifamily lender with Freddie Mac and HUD. For more information about Walker & Dunlop’s view on the apartment market, including insights on GSE reform and key economic trends, download our Winter Multifamily Outlook Report.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and the firm’s 800+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
About JLL Income Property Trust
Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.