PALM BEACH, FL—New York Life is lending on Boca Raton, FL multifamily—$97 million on two deals in the last week alone. Walker & Dunlop just closed on the financing arrangements for apartment communities in the Palm Beach multifamily market.
W&D's Paul Ahmed led the team that arranged the acquisition loans for the borrower. ARA Finance LLC, Walker & Dunlop's joint venture with ARA, originated the loan for San Marco at Broken Sound. The firm closed both loans within 30 days of signature.
“We marketed these loans to a variety of lenders, including the agencies, and we saw a lot of interest and competition to win the deals,” Ahmed says. “Not only were the transaction amounts significant, but the properties are located in established locations in Boca.”
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