Managing Director, Craig West, led the Walker & Dunlop team that arranged both the bridge loan and the 7-year Freddie Mac loan. Mr. West stated, "Walker & Dunlop's platform of diverse financing solutions allows us to structure creative transactions that meet the varying needs of our borrowers. By using the Company's interim loan program, Waypoint Residential was able to acquire Waterlynn Ridge and subsequently secure long-term financing at a competitive rate."
Waterlynn Ridge Apartments is a garden-style apartment property located 25 miles from Charlotte, North Carolina in Mooresville, a submarket that has recently seen strong rental growth and occupancy. Built in 2008, the property has 312 units and features amenities such as a resort style pool, state of the art fitness center, barbecue area and a walking trail. The property manager, Waypoint Management, is a subsidiary of the borrower and currently manages 9,000 multifamily units across the Southeastern United States.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 500 professionals in over 25 offices across the nation with an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.