Walker & Dunlop Arranges $328.5 Million in Financing for Washington Metropolitan Area Retail Centers in First Three Quarters of 2012
BETHESDA, Md., Nov. 20, 2012 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) announced today that it has arranged $328,550,000 in financing for retail centers located in the DC Metro during the first three quarters of 2012. Walker & Dunlop has specialized in arranging financing for properties located in the Mid-Atlantic region since 1937. The following two deals exemplify Walker & Dunlop's capabilities for financing retail centers. Both properties were 100 percent leased at closing.
Most recently, Walker & Dunlop arranged a $32,500,000 refinance loan for Springfield Plaza Shopping Center, a Class A retail center located in Springfield, VA. Walker & Dunlop was able to accommodate all of the borrower's requests and arrange 10-year interest-only financing at a below-market rate, coupled with a forward funding. Springfield Plaza offers 260,974 square feet of retail space and is located with close proximity to two interstate highways. The shopping center is anchored by Giant Food and boasts many national and regional tenants including Trader Joe's, Chipotle, CVS Pharmacy, Starbucks and buybuy BABY.
Earlier this year, Walker & Dunlop arranged $41,000,000 in financing for Vista Gardens Marketplace, a retail shopping center located in Lanham, MD. The permanent loan was structured with a 15-year term and a 30-year amortization period and funded by a major life insurance company for the borrower, Lanham LLP. The property was developed by The Michael Companies, which also controls the leasing and management. Vista Gardens Marketplace is a 399,325 square foot retail center that features tenants including Shoppers Food Warehouse, Home Depot, Target, Chipotle, Office Depot and Starbucks.
Walker & Dunlop Executive Vice President, J. Tyler Blue, commented, "These two deals demonstrate Walker & Dunlop's deep knowledge and experience in the Greater Metropolitan region with respect to food/drug-anchored retail centers. We have added additional personnel to our Capital Markets group, which has greatly enhanced our ability to finance retail centers both on a local and national level."
In addition to J. Tyler Blue, (301/215-5518, firstname.lastname@example.org), Senior Vice President, Sandor Biderman, (301/215-5597, email@example.com) and Vice President, W. Paul Wallace, (301/215-5538, firstname.lastname@example.org) led the team on the Springfield Plaza transaction.
Walker & Dunlop Senior Vice President, Capital Markets, Ted Hermes (301/215-5529, email@example.com), with the assistance of Elizabeth Conahan (Volta Place, LLC; 301/215-5509, firstname.lastname@example.org) led the Walker & Dunlop team on the Vista Gardens Marketplace transaction.
About Walker & Dunlop
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS®, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups are focused on lending to property owners, investors, and developers of multifamily properties across the country. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States, securing capital from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investments group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity, including interim financing. Walker & Dunlop, LLC has over 400 employees located in 21 offices nationwide. More information about the Company can be found at www.walkerdunlop.com.
SOURCE Walker & Dunlop, Inc.