Walker & Dunlop’s All-Agency Transaction Trifecta
The Walker & Dunlop team of Kevin Giusti, Michael Davis and Jeff Ringwald ran the agency gamut this month, closing one Freddie Mac, one Fannie Mae and one HUD loan, all totaling $42.6 million. W&D started with a $13.5 million refinance closed through Freddie Mac for a brand-new, 52-unit memory care community in Springfield, Oregon. The borrower, Onelife Investments was able to recapitalize 100% of its equity and obtained a 15-year loan with a fixed rate. Next, another recently-built senior living community refinanced with Fannie Mae, thanks to the Walker & Dunlop team. Operated by Avista Senior Living, the 108-unit assisted living community opened in 2017 within a larger active... Read More »
The Freddie Mac/Fannie Mae 2018 Rankings Are In
Fannie Mae and Freddie Mac came out with their 2018 multifamily loan production rankings, showing more than $143 billion in volume was closed across the two agencies. Compared with last year, that resulted in a 3% decrease for Fannie Mae but a 7% increase for Freddie Mac. That’s a lot of capital injected into multifamily assets. Wells Fargo Multifamily Capital placed first for the Fannie Mae list with $8.1 billion in closings, followed by Walker & Dunlop ($6.9 billion) and Berkadia Commercial Mortgage ($6.6 billion). On the Freddie Mac rankings, CBRE came out on top with $13.7 billion in loans closed, with Berkadia ($9.9 billion) and HFF ($7.2 billion) taking second and third.... Read More »
Berkadia Closes First Freddie Mac Structured Pool Transaction For Seniors Housing
Berkadia combined both fixed and variable rate debt in their latest transaction closed on behalf of Brookdale Senior Living. Using Freddie Mac’s new Structured Pool Transaction program, Heidi Brunet and Lisa Lautner secured 10-year, non-recourse financing with a 30-year amortization schedule split between a $213 million fixed-rate component and a $114 million variable-rate component. Some 28 properties and 2,200 units were refinanced with the loans, and through Freddie Mac’s Green Advantage program they will be able to make environmental upgrades. This is the first Structured Pool Transaction in the seniors housing industry, but with the interest rate risk diversification it provides, look... Read More »
Active Adult Community Gets Freddie Mac Financing
A high-end active adult community located in an affluent Denver, Colorado suburb successfully refinanced with the help of Leon McBroom of HFF. Working through Freddie Mac’s CME Program, Mr. McBroom secured $21.4 million in 10-year fixed-rate financing, which will be serviced by HFF. The property was developed in 2014 by McBroom Company and managed by The Avenues Company. It features 70 units and 20 cottages (combining for 98% occupancy), along with a host of luxury amenities like an outdoor kitchen, fitness center with a yoga space and a billiard lounge. Read More »Schedule a demo
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