Bethesda, Maryland – March 22, 2017
Walker & Dunlop, Inc. (NYSE: WD) announced today that it structured a $13,521,000 acquisition loan for Alexander Pointe, a Class B, garden-style apartment complex in the Jacksonville, Florida suburb of Orange Park.
Alexander Pointe marks the fourth execution that Walker & Dunlop’s Andrew Tapley and Alexandra Huffman have originated for Capital Square (the “Borrower”) in the past seven months, the details of which are included in the table below. The origination team arranged the loan using Fannie Mae’s Green Rewards program at a 65 percent loan-to-value with a 10- year, fixed rate term and five years of interest-only payments. The Borrower used the Delaware Statutory Trust (“DST”) structure to permit its investors to acquire interests in the property in a tax-deferred exchange under Section 1031 of the Internal Revenue Code.
Property City, State Loan Occupancy Rate The Canopy Apartments San Antonio, TX $11,700,000 95.91% 3.73% Crossroads Apartments Phoenix, AZ $16,510,000 94.30% 3.44% Maple Springs Apartment Homes Richmond, VA $15,600,000 97.39% 3.50% Alexander Pointe Orange Park, FL $13,521,000 96.55% 4.09%
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