In a constantly shifting and uncertain economic environment, Walker & Dunlop’s growing New York Capital Markets team continues to build momentum as it guides its clients in securing various types of financings for all asset classes. In the past 30 days, the team closed more than $1 billion in capital markets activity across the country.
Led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler, the group provides the expertise and relationships within the market to assist clients with their financing needs. Their success in this volatile capital markets landscape reflects their multi-faceted ability to source aggressive capital from virtually every type of lender and equity provider in today’s marketplace.
“We live in times of uncertainty, but it doesn’t mean we need to sit on the sidelines. Despite continued market volatility and a more conservative financing landscape, our team’s expertise up and down the capital stack has allowed us to continue closing complex transactions for our clients across the country,” said Aaron Appel. “Our expertise and deep relationships with the market’s most active lenders and equity providers has allowed us to stay ahead of the curve and tailor financing solutions specific to our clients’ unique business plans and needs.”
Select recent transactions include:
The Brook - $388 million: Walker & Dunlop structured financing from Bank of America for The Brook located at 565 and 547-557 Fulton Street, a development consisting of 448,000 rentable square feet of luxury, mixed-use multifamily and retail space located at the cross-section of Fulton Street, Flatbush Avenue Extension, and DeKalb Avenue in Downtown Brooklyn. The unique bookending development is located next to some of Brooklyn’s most popular thoroughfares, just steps from the Fulton Mall, and a 5-minute walk from the Barclays Center.
452 Fifth Avenue - $385 million: Walker & Dunlop stepped in after a proposed sale fell through in May to arrange a refinance on behalf of the property’s owner, PBC. The team quickly identified JP Morgan Chase as the optimal lender to secure a floating rate refinance of the 885,000-square-foot office property. The financing will enable PBC to retire existing debt and fund future capital expenditure and leasing costs as they reposition the asset.
100 Church Street - $370 million: The team arranged a floating rate refinancing for SL Green Realty Corp, selecting Aareal Capital as the lender after an extensive marketing process. With the City of New York as its anchor tenant, the Lower Manhattan property offers over one million square feet of office space at the intersection of TriBeCa and the Financial District.
95 Morton Street - $155 million: Walker & Dunlop arranged financing for Meadow Partners’ acquisition of the property with Deutsche Pfandbriefbank AG as the lender. Built in 1911, the West Village property is home to tenants such as Venmo, Paypal, Integral Ad Science, and Fanatics, a rapidly growing e-sports company that plans to occupy 75,000 square feet of the 220,000-square-foot building.
- 130 Fifth Avenue - $77 million: As the exclusive advisor to Olnick Organization, Walker & Dunlop arranged loan proceeds from New York Community Bank to refinance 130 Fifth Avenue, a well-located boutique office building in the center of Flatiron District. Standing 11 stories tall, the property is just a few blocks from Union Square Park, Gramercy Park, and Madison Square Park and has benefitted from the limited supply of Class-A office space in the immediate submarket, resulting in a tenancy base with long-term leases and strong economics. The seven-year loan originated includes four years of interest-only payments.
“I want to congratulate the New York team on their recent success and know that the momentum will continue, considering their robust pipeline. As we continue to expand our capital markets team and capabilities, we offer our clients deep relationships with more than 350 capital sources across the country including banks, insurance companies, alternative lending sources and commercial mortgage-backed securities conduits,” said Susan Mello, Executive Vice President & Group Head, Capital Markets Walker & Dunlop.
In 2021, the Walker & Dunlop Capital Markets segment sourced over 1,300 loans and equity investments totaling nearly $30 billion from non-GSE capital providers. This vast experience has made them a top adviser on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s diverse financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry in the United States, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop and play — to life. Our people, brand, and technology make W&D one of the most insightful and customer-focused firms in our industry. With over 1,400 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.