Walker & Dunlop, Inc. announced today that it structured $12,195,000 in financing for the Townhomes at Two Rivers, a green certified multifamily property located in Lowell, Michigan, a city within the Grand Rapids metropolitan area.
Walker & Dunlop Senior Director Benjamin Krosin refinanced the property on behalf of Forest Hills Homes and Rohde Construction, acting as general contractor. The transaction was originated in conjunction with Kari Zapolski, President of Inner Circle Holdings, a Preferred Correspondent of Walker & Dunlop. The team capitalized on their vast knowledge of GSE lending to secure an early rate lock for the ten-year, Fannie Mae loan.
“As a first-time client, Walker & Dunlop exceeded our expectations when refinancing Townhomes at Two Rivers,” said Matt McCollum, Owner of Forest Hills Homes, LLC, and Developer of Townhomes at Two Rivers. “The involvement of Rohde Construction from the beginning was also key to the project’s success, as the company’s several decades of experience provided a new and improved concept design and amenity package for the property.”
“Our team is proud to identify impactful solutions that help provide environmentally-conscious housing options in the Grand Rapids, Michigan area,” commented Senior Director Benjamin Krosin. “Walker & Dunlop worked closely with our clients to certify the property as a green building under Green Building Initiative’s Green Globes certificate program, which ultimately provided a lower interest rate for our clients.”
Townhomes at Two Rivers includes 80 multifamily units and features amenities such as a 24-hour fitness center, enclosed dog park, covered picnic area, and access to walking and biking trails. The property’s location offers proximity to Michigan’s Flat River and Downtown Grand Rapids and it is within walking distance to the Grand River Riverfront Park pedestrian and bike bridge.
Walker & Dunlop is the largest provider of capital to the multifamily industry in the United States based on the 2020 Mortgage Bankers Association loan origination rankings, originating $30.8 billion in transactions and lending over $24 billion for multifamily properties in 2020. For more information about Walker & Dunlop's commitment to corporate responsibility, including our Green Financing, Diversity & Inclusion, and affordable housing initiatives, download our ESG Summary.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune’s Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.