Walker & Dunlop Provides $108 Million Loan For Luxury D.C. Apartment Developed By WC Smith
09 Agosto 2023 - 7:30PM
Business Wire
Walker & Dunlop, Inc. announced today that it provided
$108.8 million in financing for Park Chelsea, a premium 429-unit
apartment building in Washington, D.C.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230809331467/en/
Park Chelsea (Photo: Business Wire)
The Walker & Dunlop multifamily finance team was led by
Brendan Coleman and Connor Locke. Park Chelsea is owned by WC
Smith, a Fannie Mae priority borrower and longstanding Walker &
Dunlop client. WCS developed Park Chelsea as the first phase of The
Collective, a 1,138-unit apartment community with unrivaled
amenities located in the Capitol Riverfront Neighborhood in
Washington, D.C. Walker & Dunlop also provided financing for
the first three phases of The Collective in 2016 for a combined
$364.2 million.
“WC Smith is a valued client that has built a spectacular
reputation over many decades as a multifamily investor, developer,
and operator,” said Coleman, senior managing director of
Multifamily Finance at Walker & Dunlop. “Built in 2016, Park
Chelsea is an extremely valuable property in WCS’s exceptional
portfolio. It is in excellent condition and will no doubt continue
to offer a high-quality home for its residents for years to
come.”
Park Chelsea’s high-end amenities include a leasing center,
24-hour concierge, club room/game room, library, conference room,
garden room and more. Additionally, residents of The Collective
have access to amenities across all three phases of the project,
including indoor green space with an amphitheater, a full-size
basketball court, an outdoor singles tennis court, and a co-working
space.
“We could not be more thrilled for another fantastic execution
from Walker & Dunlop,” said Chris Smith of WC Smith. “The
Coleman team drove a competitive process culminating in an
expedited approval to allow rate lock within 24 hours of
application. This was a highly sensitive refinance where their
proactive and clear direction made all the difference in this
challenging capital markets environment.”
Park Chelsea is located in the Capitol Riverfront Neighborhood
in Washington, D.C. It is within walking distance of numerous
shops, services, and entertainment venues and conveniently
positioned near I-695, which connects to I-95, a highway that
serves as a north/south corridor for the east coast.
Walker & Dunlop is a leader in multifamily property sales,
having completed $19.7 billion in property sales volume in 2022
alone. The firm is also one of the top providers of capital to the
U.S. multifamily market; in 2022, the firm originated nearly $44
billion in debt financing volume, including lending over $36
billion for multifamily properties. To learn more about our
capabilities and financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial
real estate finance and advisory services firms in the United
States. Our ideas and capital create communities where people live,
work, shop, and play. The diversity of our people, breadth of our
brand and technological capabilities make us one of the most
insightful and client-focused firms in the commercial real estate
industry.
Upcoming Walker & Dunlop Events
Zelman & Associates 2023 Virtual Housing Summit (September
18-21) is universally deemed the premier housing-related conference
in the industry. Hear thought-provoking C-Suite panel insights and
a comprehensive immersion into all aspects across the housing
mosaic. With attendance of 1000+ Institutional Investors and
Industry Executives, the Summit will guide you into 2024 and
beyond. To learn more or register, please visit the following
link.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809331467/en/
Investors: Kelsey Duffey Investor Relations Phone
301.202.3207 investorrelations@walkeranddunlop.com
Media: Nina H. von Waldegg VP, Public Relations Phone
301.564.3291 info@walkeranddunlop.com
Walker & Dunlop (NYSE:WD)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Walker & Dunlop (NYSE:WD)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024