Polo Glen Apartments Rockledge Fla
Polo Glen Apartments, Rockledge, Fla.

Walker & Dunlop Arranges $98M in Loans for Multifamily Properties in the Southeast

Walker & Dunlop Inc. provided $97.98 million in financing for six multifamily properties in primary and secondary markets in the southeast. The properties contain a total of 1,708 units and are located in Florida, Georgia, Kentucky and Louisiana.

On behalf of Pollack Shores Real Estate Group, Walker & Dunlop provided a loan for Polo Glen Apartments in Rockledge, Fla. through the Freddie Mac Capital Markets Execution (CME) program. The loan features a 10-year term with two years interest only and a 30-year amortization schedule, 75 percent LTV and a 1.60x debt service coverage ratio.

On behalf of Cortland Partners, Walker & Dunlop refinanced Springdale Glen Apartments in Clarkston, Ga. and Sinclair Apartment Homes in Norcross, Ga. Through Freddie Mac’s CME program, the company provided a loan for Springdale Glen that features a 10-year term, a 30-year amortization schedule, 75 percent LTV and a 1.30x debt service coverage ratio. Through Freddie Mac’s Capped Adjustable Rate Mortgage (ARM) program, Walker & Dunlop provided a loan for Sinclair Apartment Homes that features a seven-year term, a 30-year amortization schedule, 75 percent LTV and a 1.10x debt service coverage ratio.

On behalf of Priderock Capital Partners, Walker & Dunlop provided a Fannie Mae acquisition loan for Park Place Apartments in Louisville, Ky. The loan features a 10-year term with one year interest only, a 30-year amortization schedule, 75 percent LTV and a 1.43x debt service coverage ratio.

Walker & Dunlop also structured Fannie Mae financing for Favrot & Shane Cos.’ Palmetto Creek Apartments in Harahan, La. and Regency Club Apartments in Baton Rouge, La. The loan for Palmetto Creek features a 10-year term, a 30-year amortization schedule, 68 percent LTV and a 1.65x debt service coverage ratio. The loan for Regency Club features a 10-year term, a 30-year amortization schedule, 80 percent LTV and a 1.25x debt service coverage ratio.

 

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