50
Bethesda, Md. — Walker & Dunlop has specialized in financing student housing properties since 1988. Here are samples from recent deals.
The Pointe near Mississippi StateBethesda, Md. — According to Walker & Dunlop, the multifamily lender provided $157.1 million in financing for off-campus student housing properties around the country in 2012.
Walker & Dunlop has specialized in student housing properties finance since 1988. The following $89.1 million in recent deals provide a few examples:
- Walker & Dunlop provided $22.9 million in Fannie Mae financing for University Square Apartments and Laurel Ridge Apartments, both located in close proximity to the Texas A&M campus, in College Station, Texas. The acquisition loans were structured with 10-year terms, with 2.5-years interest only, followed by 30-year amortization periods. Walker & Dunlop Senior Vice President, Drew Anderman, led the Walker & Dunlop team.
- For Eagle’s West Apartments, located within walking distance of Auburn University, in Auburn, Ala., Walker & Dunlop provided $11.6 million in Freddie Mac financing. The loan was structured with a 10-year term with two-years interest only and a 30-year amortization period. Walker & Dunlop was able to secure a 77 percent loan-to-value for the cash-out refinance. Walker & Dunlop Senior Vice President, Will Baker, led the Walker &Dunlop team.
- Walker & Dunlop provided $6 million in Fannie Mae financing for Elmira Jeffries, located adjacent to Temple University, in Philadelphia. The refinance loan was structured with a 15-year term, followed by a 25-year amortization period. All units are furnished by the university through a master lease and feature full kitchens, living rooms and private bathrooms, which are not available in most other Temple residence halls. Walker & Dunlop Senior Vice President, Steven Heller, led the Walker & Dunlop team.
- Located adjacent to Mississippi State University in Starkville, Miss., Walker & Dunlop provided two loans for The Pointe at MSU in 2012. The Pointe at MSU is a Class A student housing development that offers 1,392 beds in 408 units in 32 buildings and was built in multiple phases. The first phase was completed in 2010, Phase IIA was completed in 2011 and Phase IIB was completed in 2012. Walker & Dunlop provided $21 million in Fannie Mae financing for Phase I in April and recently provided $23.8 million for Phase II. Both refinance loans were structured with a 10-year term and a 30-year amortization period. Walker & Dunlop Senior Vice President, Andrew Tapley, led the Walker & Dunlop team.