Walker & Dunlop Arranges $100 Million+ Construction Loan for Multifamily Project in Brooklyn
May 20, 2024 at 06:30 am
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Walker & Dunlop, Inc. announced that it arranged a $110,000,000 loan to facilitate the construction of 880 Atlantic Avenue, a 246-unit Class-A multifamily development in Prospect Heights, Brooklyn. The Walker & Dunlop New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and William Herring, acted as exclusive advisors to EMP Capital Group. The team identified QuadReal Property Group as the lender to secure the construction loan. Loan proceeds will be used to fund ongoing development costs.
The repeat client, EMP Capital Group, has deep involvement in the neighborhood and is also developing 1034-1042 Atlantic Avenue, a 247-unit project that Walker & Dunlop also financed in March 2024 for $109 million.
Walker & Dunlop, Inc. is a commercial real estate finance and advisory services firm. The Company focuses on providing multifamily lending, property sales, commercial real estate debt brokerage, and housing investment management. Its segments include Capital Markets, Servicing & Asset Management, and Corporate. Capital Markets segment provides a range of commercial real estate finance products to customers, including Agency lending, property sales, and appraisal and valuation services, others. Servicing & Asset Management segment's activities include servicing and asset-managing the portfolio of loans the Company- originates and sells to the Agencies; or brokers to certain life insurance companies, and originates through its principal lending and investing activities, and managing third-party capital invested in tax credit equity funds focused on the housing sector, and other commercial real estate. Corporate segment includes treasury operations, and other corporate-level activities.
WALKER & DUNLOP, INC. 
