Walker & Dunlop Completes Sale and Financing for Best-in-Class Multifamily Property in LA’s Thriving Warner Center
Walker & Dunlop, Inc. announced today that it completed the sale and financing for Hanover Warner Center, a 395-unit, Class A multifamily property in Los Angeles, California that was completed in 2020. The newly constructed seven-story building is located in the rapidly evolving Warner Center neighborhood, home to the city’s largest Specific Plan which is expected to receive roughly $7 billion in total private and public investment when completed.
Walker & Dunlop’s Blake Rogers, Hunter Combs, Alexandra Caniglia, and Javier Rivera represented the sellers, The Hanover Company and Goldman Sachs Asset Management. Craig West and Justin Nelson, who specialize in multifamily finance at Walker & Dunlop, worked alongside the team to arrange acquisition financing on behalf of the buyer, Bell Partners.
Hanover Warner Center features bespoke, best-in-class unit interior finishes and a robust amenity package, including a resort-style pool, fully equipped fitness center, two rooftop sundecks, theater, grilling stations, and a fire pit. The community offers studios, one-, two- and three-bedroom units, as well as loft-style apartments with 16-foot ceiling heights. Premium finishes include stainless steel appliances, quartz countertops, and in-unit washers and dryers.
Walker & Dunlop is a leader in multifamily property sales, having completed $4.74 billion in property sales volume in the first half of 2021. The firm was also the top provider of capital to the U.S. multifamily market, originating $31 billion in transactions and lending over $24 billion for multifamily properties in 2020. For information about Walker & Dunlop's view on the apartment market, read our recently-released Summer 2021 Multifamily Outlook Report.