Le Lézard
Classified in: Business, Covid-19 virus
Subject: FNC

Walker & Dunlop Structures $25 Million in Financing for Class-A Apartment Community in Eastern Pennsylvania


BETHESDA, Md., Oct. 14, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured $25,200,000 in Fannie Mae financing for Bethlehem Fields Apartments, a 216-unit, Class-A multifamily property located in Bethlehem, Pennsylvania in the Lehigh Valley region. Walker & Dunlop arranged the refinancing on behalf of Boyd/Wilson, a repeat client with 38 years of experience in commercial real estate development and property and construction management throughout Pennsylvania.

This financing for Bethlehem Fields, which was originally organized as a bank execution prior to the COVID-19 pandemic, represented Boyd/Wilson's first Agency execution. Amid market uncertainty, the Philadelphia Capital Markets team, including Managing Directors, John Banas and Kris Wood, as well as Analysts John Wilson and Rhett Saltiel, quickly pivoted to secure the best financing solution for their client. Leveraging their strong relationship with Fannie Mae, the team structured the deal with three years of interest-only payments and an attractive fixed rate for the ten-year loan term.

Frank Barrett, President of Boyd/Wilson, commented, "John and his team provided a smooth refinance process with Fannie Mae. Their professionalism and insight were second to none. We were able to lock in an extremely competitive rate with incredible terms. With their guidance, we were able to easily navigate the complex GSE market."

Mr. Banas commented, "Boyd/Wilson is a long-standing, well-run family business that owns and operates best-in-class properties; it's always a pleasure to work with their team."

Bethlehem Fields is located minutes from Route 78 and the Delaware River and offers spacious one- and two-bedroom apartments and townhomes with a variety of floor plans. In addition to the 14 residential buildings on site, the property features a clubhouse, playground, fitness center, picnic areas, and garages. Boyd/Wilson plans to utilize the cash-out proceeds to perform capital improvements at the property.

Walker & Dunlop is a leader in multifamily lending, ranking as the largest Fannie Mae DUS® multifamily lender and the 3rd largest Freddie Mac Optigo® lender by volume in 2019. For information about Walker & Dunlop's view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our new Driven by Insight information center.

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 was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.

SOURCE Walker & Dunlop, Inc.


These press releases may also interest you

at 20:55
ZoomerMedia Limited (the "Company"), the leader in serving the interests of the 45+ "Zoomer" market in Canada, today announced its financial results for the year ended August 31, 2020. Consolidated Results For the twelve months ended August 31,...

at 19:55
Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") announces the release of its interim financial results and Management Discussion and Analysis ("MD&A"), for the nine month period ended September 30, 2020. In addition, CSRI announces...

at 19:44
TSX VENTURE COMPANIES CINAPORT ACQUISITION CORP. III ("CAC.P") BULLETIN TYPE:  Suspend-Failure to Complete a Qualifying Transaction within 24 months of ListingBULLETIN DATE:  November 27, 2020,TSX Venture Tier 2 Company Further to Exchange bulletins...

at 18:50
iLOOKABOUT Corp. ("ILA" or "the Company") today announced that its unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2020 and 2019, and the related Management's Discussion and Analysis...

at 18:35
Appreciated Media Holdings Inc. ("Appreciated Media" or the "Corporation") is pleased to announce that the board of directors of the Corporation (the "Board") has negotiated a forbearance agreement with Amcomri GP BVI Limited ("Amcomri") until...

at 18:26
Lakeview Hotel Investment Corp. (the "Corporation" or "Lakeview") announced today that it will not be able to meet the filing date of November 30, 2020, as provided in National Instrument 51-102 ? Continuous Disclosure Requirements, for filing of...



News published on 14 october 2020 at 17:00 and distributed by: