Walker & Dunlop : Originates Multi-Asset Portfolio Refinance

originated approximately $200 million for the refinancing of multiple multifamily assets with Freeman Webb in Missouri and Tennessee.
Freeman Webb strategically invested in these assets to pay off existing debt and complete extensive elective renovations to the properties to increase their overall marketability. The portfolio included 24 properties with loans structured as 10- and 15-year, full term interest only with an average loan to value of 65%. Freeman Webb had a strong desire to take advantage of the historically low interest rates and structure their loans to favor the current market. As a result, Freeman Webb reduced their rates and debt constants on several properties by 50% for a low rate of approximately 3.5%.
Managing Directors, David Strange, Keith Meltonand Stephen Farnsworthled the Walker & Dunlop team. Mr. Farnsworth stated, "Due to the Company's expertise with portfolio transactions and tailored financing solutions, the borrower locked in significantly low interest rates with Freddie Mac full term interest only loans for these long term hold properties." David Strange commented, "We're very proud of the long standing relationship we've had serving as an agency Lender to Freeman Webb and thus thrilled the market cooperated and afforded such terrific rates and terms for Freeman Webb's long term hold position."
Kent Burns, executive vice president at Freeman Webb commented, "The Walker & Dunlop team did a great job of smoothly coordinating a large portfolio refinance and delivered on schedule and on target. They were very organized and efficient demonstrating the same high quality Company culture from top to bottom of the organization. I was impressed!"
Freeman Webb is a private real estate investment firm that specializes in the acquisition, management and renovation of multifamily residential and commercial property. The Freeman Webb investment and management portfolio includes
80 multifamily properties, including 15,000 units across the Southeast, and office and retail properties in the Southeast and Midwest. Common amenities included with these properties are pools, saunas, fitness centers, a clubhouse, business center, tennis courts, volleyball courts, picnic areas, and playgrounds.

Walker & Dunlop(NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has more than 450 professionals in 23 offices across the nation with an unyielding commitment to client satisfaction.

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