October 14, 2019 Comments Off on Walker & Dunlop Secures $35M Construction Loan for Emerald Coast MXU Project Views: 825 Florida News, Gulf Coast, Top Florida

Walker & Dunlop Secures $35M Construction Loan for Emerald Coast MXU Project

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Walker & Dunlop has secured a $35.4-million construction loan for Renaissance Santa Rosa, a nine-acre mixed-use project in Mary Esther.

Formerly a department store site adjoining the Santa Rosa Mall, the property will undergo a comprehensive redevelopment into a walkable, mixed-use community. Located between Pensacola and Panama City, the project will consist of four buildings with 229 residential units. The project is slated for completion in the fourth quarter of 2020.

Frank Baldasare, Heather Olson, Al Rex and Marty McGrogan of Walker & Dunlop secured the financing on behalf of the borrowers, Rea Ventures Group and Radiant Partners. Funds were secured through HUD’s 221(d)(4) construction program.

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