SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Bethesda, MD-based Walker & Dunlop Inc. recently provided $174.32 million in financing for a portfolio of seven properties totaling 1,561 multifamily units located in California.
Walker & Dunlop was able to lock rate on the portfolio in less than 30 days and close on the financing within 60 days of receiving the application from the borrower. The Walker & Dunlop team was led by SVP, Andrew Tapley.
According to the firm, the portfolio had “complex ownership and borrower structures.” The firm also designed financing to accommodate each property.
The portfolio consists of manufactured housing communities and apartment complexes; three properties are located in Northern California and four properties are located in Southern California. Six of the properties were financed with full-term interest-only loans and one was structured with a five-year interest-only loan.
The firm could not provide GlobeSt.com with any further information on the borrower at this time. But the did tell GlobeSt.com that the properties are located in Vista, Alameda, Huntington Beach, Sonoma, Martinez, Aliso Viejo and Paramount.
We will follow up on this story as more information becomes available.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
