Dealmaker: Walker & Dunlop Arranges $507M for Hotel, Multifamily Assets

Walker & Dunlop, Bethesda, Md., arranged $218.2 million in construction financing for JW Marriott Bonnet Creek, a 516-key hotel and resort within Walt Disney World in Orlando, Fla.

A Miami-based Walker & Dunlop capital markets team including Managing Directors Kevin O’Grady, Daniel Sheehan and Eric McGlynn worked with Steven Fischler, President of SRF Ventures, New York, to secure the financing, which included both senior and mezzanine debt.

Schar Holdings affiliate DCS Real Estate Investments, West Palm Beach, Fla., is developing the $282 million property with delivery scheduled for fourth-quarter 2019.

In California, Walker & Dunlop closed a $289 million financing with Fannie Mae for 21 multifamily properties. Most of the 21 properties have project-based Section 8 Housing Assistance Payment contracts to provide affordable housing in some high-cost metropolitan areas. Other properties qualified for the Fannie Mae Green Rewards Program, where new investments in water and electrical systems will reduce the properties’ environmental impact. 

The 21-property portfolio includes 2,189 units in major metropolitan areas including San Francisco, San Jose, San Diego and Los Angeles.

Walker & Dunlop Vice President Steven Natale led the debt-placement team.