Dealmaker: Walker & Dunlop Arranges $46.5M for San Antonio Refinance

(The Park at Westover Hills courtesy of Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., arranged $46.5 million to refinance a recently completed multifamily complex in San Antonio.

The Walker & Dunlop Capital Markets Real Estate Finance team led by Stuart Wernick and Drew Garrison arranged the refinancing with a floating-rate interest-only bridge loan provided by Geoff Smith and Mike Dunsheath of Walker & Dunlop Investment Partners.

The refinancing was arranged on behalf of GenCap Partners Inc.

The property–the Park at Westover Hills–is a Class A+ multifamily community with 14 buildings and 372 units.

“The Park at Westover Hills is located in San Antonio’s Far West submarket, one of the city’s fastest-growing areas. While recent deliveries have temporarily pressured fundamentals, the development pipeline has slowed significantly, with only two properties under construction,” Wernick said.