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BETHESDA, Md., Dec. 18, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it brokered the sale and structured acquisition financing for Collection at Overlook, a 411-unit multifamily property located in San Antonio, Texas.
Walker & Dunlop's Forest Bass and Matt Pohl represented the buyer and the seller in the disposition, and financing experts Tom Toland and Matt Newton arranged a permanent loan through Freddie Mac's Green Advantage execution. The financing features an attractive low rate for the ten-year term and includes five years of interest only payments. In addition to sourcing the financing, the debt and equity teams' strong relationship and collaboration with the Walker & Dunlop Investment Sales team in Austin allowed all parties to meet the buyer's and seller's timing expectations.
To complete the transaction, the team also coordinated with Chris Harris in Walker Dunlop's Structured Finance Group to source preferred equity through Brian Cornell and Alex Rongione of Walker & Dunlop Investment Partners, a wholly owned alternative investment manager based in Denver, Colorado. The preferred equity execution allows the sponsor to complete unit renovations in 304 units at the property to completely reposition the asset over the next few years.
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"This transaction truly exemplifies the breadth and strength of the Walker & Dunlop platform. Four different groups at W&D – sales, finance, equity, and preferred equity – collaborated together and worked closely with both the buyer and seller to make this transaction successful. We thoroughly enjoyed working with Pegasus, a new client of Walker & Dunlop," said Tom Toland, Senior Director of Multifamily Finance at Walker & Dunlop.
Built in 1984, Collection at Overlook consists of 31 two- and three-story, garden-style buildings across approximately 16 acres. The property also has an impressive amenity set, including a clubhouse, business center, fitness center, and swimming pool. Located close to major San Antonio thoroughfares, including Loop 1604, Interstate 410, and Highway 281, the property offers convenient commuting access to its residents.
Walker & Dunlop is one of the largest multifamily lenders in the country; it is ranked the third largest Freddie Mac Optigo® lender and the #1 Fannie Mae as of 2019. The company plays an active role in shaping the future of the multifamily industry. 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 950+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.
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About Walker & Dunlop Investment Partners
Walker & Dunlop Investment Partners ("WDIP," f.k.a. JCR Capital Investment Corporation) is an alternative investment manager that provides capital solutions to middle-market commercial real estate sponsors. Investing on behalf of insurance companies, public pension funds, endowments, foundations, family offices, and high-net worth individuals, WDIP partners with sponsors whose transactions are in need of financing but are under-served by institutional capital. The Denver, Colorado-based firm's investment vehicles focus on opportunistic, value-add, and income-oriented commercial real estate strategies. As a wholly-owned subsidiary of Walker & Dunlop, one of the largest commercial real estate finance companies in the United States, WDIP has unmatched access to proprietary resources and market intelligence. This partnership offers clients unique, real-time insights into market movements, valuation, pricing, and underwriting. For more information, visit www.wdinvestmentpartners.com.
All investments have risk of loss and WDIP cannot guarantee any investment strategy will achieve its goals and objectives. Nothing herein is an offer to sell any security, including an interest in any private fund.
SOURCE Walker & Dunlop, Inc.
Related Links
http://www.walkerdunlop.com
Walker & Dunlop's Forest Bass and Matt Pohl represented the buyer and the seller in the disposition, and financing experts Tom Toland and Matt Newton arranged a permanent loan through Freddie Mac's Green Advantage execution. The financing features an attractive low rate for the ten-year term and includes five years of interest only payments. In addition to sourcing the financing, the debt and equity teams' strong relationship and collaboration with the Walker & Dunlop Investment Sales team in Austin allowed all parties to meet the buyer's and seller's timing expectations.
To complete the transaction, the team also coordinated with Chris Harris in Walker Dunlop's Structured Finance Group to source preferred equity through Brian Cornell and Alex Rongione of Walker & Dunlop Investment Partners, a wholly owned alternative investment manager based in Denver, Colorado. The preferred equity execution allows the sponsor to complete unit renovations in 304 units at the property to completely reposition the asset over the next few years.
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"This transaction truly exemplifies the breadth and strength of the Walker & Dunlop platform. Four different groups at W&D – sales, finance, equity, and preferred equity – collaborated together and worked closely with both the buyer and seller to make this transaction successful. We thoroughly enjoyed working with Pegasus, a new client of Walker & Dunlop," said Tom Toland, Senior Director of Multifamily Finance at Walker & Dunlop.
Built in 1984, Collection at Overlook consists of 31 two- and three-story, garden-style buildings across approximately 16 acres. The property also has an impressive amenity set, including a clubhouse, business center, fitness center, and swimming pool. Located close to major San Antonio thoroughfares, including Loop 1604, Interstate 410, and Highway 281, the property offers convenient commuting access to its residents.
Walker & Dunlop is one of the largest multifamily lenders in the country; it is ranked the third largest Freddie Mac Optigo® lender and the #1 Fannie Mae as of 2019. The company plays an active role in shaping the future of the multifamily industry. 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 950+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.
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About Walker & Dunlop Investment Partners
Walker & Dunlop Investment Partners ("WDIP," f.k.a. JCR Capital Investment Corporation) is an alternative investment manager that provides capital solutions to middle-market commercial real estate sponsors. Investing on behalf of insurance companies, public pension funds, endowments, foundations, family offices, and high-net worth individuals, WDIP partners with sponsors whose transactions are in need of financing but are under-served by institutional capital. The Denver, Colorado-based firm's investment vehicles focus on opportunistic, value-add, and income-oriented commercial real estate strategies. As a wholly-owned subsidiary of Walker & Dunlop, one of the largest commercial real estate finance companies in the United States, WDIP has unmatched access to proprietary resources and market intelligence. This partnership offers clients unique, real-time insights into market movements, valuation, pricing, and underwriting. For more information, visit www.wdinvestmentpartners.com.
All investments have risk of loss and WDIP cannot guarantee any investment strategy will achieve its goals and objectives. Nothing herein is an offer to sell any security, including an interest in any private fund.
SOURCE Walker & Dunlop, Inc.
Related Links
http://www.walkerdunlop.com
Filed Under: Business
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