This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Walker & Dunlop Provides $70M Bridge Loan For Collegetown Terrace Apartments

BETHESDA, Md., Aug. 22, 2013 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) ("the Company") announced today that the Company recently provided $70,000,000 in bridge financing for Collegetown Terrace Apartments, a newly-constructed off-campus student housing property located a half mile from Cornell University in Ithaca, NY. Walker & Dunlop funded the loan through a subsidiary in conjunction with one of the institutional investors in its recently-announced large loan bridge venture. The Company has specialized in providing financing for student housing properties since 1988.

"The property is a best-in-class asset in one of the tightest student housing markets in the country," Walker & Dunlop Executive Vice President, Jeff Goodman stated. "Lease up of the new phases has been very strong. Moreover, our borrowers' deep experience in student housing development and management, along with their local roots, contributed to making this an attractive opportunity for our bridge program.  It is also indicative of Walker & Dunlop's continued dedication to providing financing for quality student housing. We look forward to providing many similar multifamily, student and seniors housing bridge loans of $30 million and more for high quality properties across the country through our large loan bridge venture in the coming weeks and months."

Collegetown Terrace is being built in four phases and once completed, will offer 1,177 beds in more than 800 units. The project will contain approximately nine percent of Cornell's off-campus housing. Senior Vice President, Brendan Coleman led the team that structured the 2-year interest-only bridge loan for Collegetown Terrace.  Daniel F. Monte, President of the Rose Hill Group, originator of the loan, commented that "Walker & Dunlop outperformed expectations and delivered as promised. We look forward to our next deal with Brendan and the Walker & Dunlop team."

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 Proprietary Capital group develops new financial products and 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 20 offices nationwide. More information about the Company can be found at www.walkerdunlop.com.

CONTACT:  Investors:  Claire Harvey, Vice President, Investor Relations, Phone: 301/634-2143, charvey@walkerdunlop.com, Media: Susan Weber , Senior Vice President, Marketing, Phone: 301/215-5515, sweber@walkerdunlop.com

SOURCE Walker & Dunlop, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs