May 10, 2017 Comments Off on Walker & Dunlop Arranges $190M MF Portfolio Refi Views: 337 California, National News, Nevada, West

Walker & Dunlop Arranges $190M MF Portfolio Refi

Bethesda, MD-based Walker & Dunlop, Inc. structured six refinancing loans totaling nearly $190.2 million on behalf of Costa Mesa, CA-based Warmington Properties Inc. The Freddie Mac and Fannie Mae loans were for a 1,240-unit portfolio of multifamily developments located in California and Nevada.

Walker & Dunlop’s Gregory Richardson and Scott Watson led the Walker & Dunlop team in placing the debt for the repeat-sponsor.

Five Freddie Mac loans and one Fannie Mae loan were structured with 10-year terms and 30-year amortization schedules. The non-recourse, fixed rate executions were arranged with a cash-out component. The portfolio’s average occupancy was more than 95%.

The assets include:

  • Clock Lusk Apartments, Cypress, CA, $48.3 million
  • Sycamore Greens Apartments, Vista, CA, $26.4 million
  • Serrano Highlands, Lake Forest, CA, $42.7
  • The Clubs at Rhodes Ranch, Las Vegas, NV, $25 million
  • Casa Grande Apartments, Cypress, CA, $38.3 million
  • Martin Apartments (pictured), Las Vegas, NV, $9.5 million

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