Dealmaker: Walker & Dunlop Completes $156M Sale, $91M Financing in Calif.

Walker & Dunlop, Bethesda, Md. closed the $156 million sale and $91.2 million financing of Volta on Pine, a multifamily property with ground-floor retail space in Long Beach, Calif.

Volta on Pine photo courtesy Walker & Dunlop

Long Beach is nicknamed Space Beach for its ties to the aviation and aerospace industries going back to Amelia Earhart’s explorations in the 1920s. Aerospace startups near Volta on Pine include SpinLaunch, Rocket Lab and Relativity Space.

The 271-unit asset with 1,300 square feet of retail benefits from recent growth in Long Beach’s job market and gives commuting renters access to nearly one million jobs throughout Long Beach, downtown Los Angeles and Irvine. A collaboration between North America Sekisui House Holland JV and MVE + Partners Architects developed the property in early 2021

Walker & Dunlop’s Blake Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs and Javier Rivera represented sellers Holland Partner Group, Vancouver, Wash., and North America Sekisui House LLC, Arlington, Va. Mark Grace, John Montakab and Trevor Fase arranged the acquisition financing from Nuveen, New York.

Attractions near Volta on Pine include the Aquarium of the Pacific, Long Beach Convention & Entertainment Center, Long Beach Jazz Festival, Lions Lighthouse and the Long Beach Grand Prix.