Walker & Dunlop Eyes Greater Affordable Housing Finance Footprint

BETHESDA, MD-Walker & Dunlop secured two acquisition loans totaling $19.8 million under Freddie Mac’s Capital Markets Execution Program for properties owned by CAPREIT in Newport News, VA. The properties are adjacent multifamily affordable housing communities called Arboretum Place and Silver Hill at the Aboretum.

The transaction is a standard multifamily loan execution with an affordable housing component, Walker & Dunlop vice president Dustin Swartz tells GlobeSt.com. Both properties are affordable, under Section 42 of the Low Income Housing Tax Credit program. Arboretum Place contains 76 LIHTC units, or 41% of the total units, and Silver Hill at the Arboretum contains 123 units, or 80%.