BETHESDA, Md., March 8, 2019 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured $44,300,000 in financing for Marietta Technology Center, a 347,500 square-foot, Class B, multi-tenant office property in Marietta, Georgia.
Led by Mark Strauss and Rob Quarton, Walker & Dunlop represented repeat-clients, Praelium Commercial Real Estate and South Street Partners, in refinancing the asset as part of a restructuring and recapitalization of the ownership entity. The team identified a leading Investment Bank as an ideal lender for the refinance assignment and structured the seven-year, fixed rate loan with interest only payments at maximum leverage for the entirety of the term. The financing was completed on an accelerated timeline during a volatile period in the capital markets at the end of 2018.
"Marietta Technology Center garnered a very positive response from lenders. We positioned the opportunity to highlight the key strength of a long term lease with an investment grade tenant.," commented Strauss. Quarton added that "This property represented a secure loan with an experienced sponsor in a burgeoning market with predictable cash flow on a long-term basis."
The recently financed assets in the Marietta Technology Center consist of four single-story, highly renovated office buildings originally constructed between 1983 and 1985. A number of large corporate headquarters operations are within five miles of the asset, including Genuine Parks, Printpack, HD Supply, and Race Trac Petroleum. Located just three quarters of a mile from I-75, Atlanta's primary northwest/southeast artery, the Marietta submarket also benefits from its close proximity to the city. With an employer base of Fortune-500 corporations, world-class centers of education and healthcare, and technology startups, the region is poised to continue its trajectory of robust economic growth and to stimulate its neighboring localities.
Walker & Dunlop is a leader in the commercial real estate finance space and has been included in Fortune Magazine's Fastest-Growing Companies List for two consecutive years. The Fortune rankings are based on three-year growth in revenues, earnings per share, and total shareholder return. The rapid growth of the company's Capital Markets group contributes to this ranking; the company completed $8.6 billion in brokered loan originations with over 235 different capital providers in 2018, a 17 percent increase from 2017. To learn more about Walker & Dunlop's diverse array of financing options, visit our website.
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. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 700+ professionals in 29 offices across the nation have an unyielding commitment to client satisfaction.
SOURCE Walker & Dunlop, Inc.