Goldman Sachs, Dantes Buy Affordable Maryland Property With $105M in GSE Financing
Walker & Dunlop structured the financing through Fannie Mae's Multifamily Affordable Housing platform.
Dantes Community Partners and the Urban Investment Group within Goldman Sachs Asset Management acquired The Verona at Landover Hills in a joint venture. The 727-unit property, located in Prince George’s County, MD, represents the third acquisition of the NORE Fund I, LP, a newly formed fund managed by Dantes Partners and their co-development firm. Additionally, the transaction represents an investment towards Goldman Sachs’ One Million Black Women initiative, a $10 billion investment strategy to narrow opportunity gaps for Black women in the next decade.
The property operated as a market-rate community but entered into a Rental and Regulatory Agreement with Prince George’s County Department of Housing & Community Development at closing. New affordability restrictions were placed on the property upon acquisition.
Walker & Dunlop, Inc. structured $105 million in financing for the transaction through Fannie Mae’s Multifamily Affordable Housing platform.