Reinier Santana, Ovation Development, commented, "In
today's financing environment, where certainty of
execution is of paramount importance, we are thrilled with
the deal we just closed with Jay Thomas and his team at
Walker & Dunlop. Not only did the loan close in under 60
days, but when critical issues arose during the process,
Walker & Dunlop was able to successfully deal with the issues
at hand in the most professional and timely
fashion."
Tesora Apartments is a 231-unit garden style apartment
community built in 2005. The multifamily complex offers one-
and two-bedroom floor plans featuring fully-equipped
kitchens, washer/dryer sets, and balconies or patios.
Property amenities include an outdoor swimming pool, barbeque
area and a clubhouse featuring a full kitchen, fitness
center, theater room, and snack bar. Tesora Apartments
was
93 percent leased at closing.
George Mitsanas, Newmark Realty Capital, Inc., originated the
loan. Walker & Dunlop Vice President, Multifamily Finance,
Jay Thomas, (469/248-5121, jthomas@walkerdunlop.com)
led the Walker & Dunlop team.
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading providers of
commercial real estate financial services 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 of Walker & Dunlop 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. Capital for this financing comes from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investment group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity.
Contact: Susan Weber
Vice President, Marketing
Phone: 301/215-5515 sweber@walkerdunlop.com
###
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