2000 West Creek in Richmond, VA
RICHMOND, VA – Walker & Dunlop Inc. has structured $225 million in Fannie Mae and bank financing for a multifamily portfolio acquired by Capital Square.
The portfolio consists of four, fully-stabilized apartment communities and one newly-built apartment development that is currently in lease-up.
Each property within the portfolio is located near various employment opportunities throughout Virginia. The multifamily communities include Saltmeadow Bay Apartments, Misty Ridge Apartments, Bellemeade Farms Apartments, 2000 West Creek and Hickory Creek Apartments.
2000 West Creek is a new, class-A apartment community, constructed in 2018. 2000 West Creek and Hickory Creek are both situated in Richmond, Virginia. Saltmeadow Bay, built in 2003, is comprised of 229-units across four residential buildings within walking distance to the beach in Virginia Beach, Virginia. Misty Ridge and Bellemeade Farms, both located in Northern Virginia, each qualified for Fannie Mae's Green Rewards program for additional loan savings.
Alexandra Huffman led the Walker & Dunlop team to arrange financing for the borrower, Capital Square. Capital markets specialist, Justin Nelson of Walker & Dunlop, identified the bank lender to compliment the agency financing. Together, the team arranged a debt package for the portfolio.
The Walker & Dunlop team has been working with Capital Square since 2016.
Walker & Dunlop, headquartered in Bethesda, Maryland, is a commercial real estate finance company, which offers capital solutions for all asset classes and investment sales brokerage services to multifamily owners.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
