Dealmaker: Walker & Dunlop Arranges $153M Across Three-Property Portfolio

(Exchange at Indian Trial; courtesy of Hathaway Development)

Walker & Dunlop, Bethesda, Md., arranged $153.3 million in total loan proceeds to refinance a portfolio of three properties in Denham Springs, La., Tallahassee, Fla., and Indian Trail, N.C.

Walker & Dunlop Capital Markets arranged the refinance for long-time client, Hathaway Development. The team, led by Stephen Farnsworth, Hanes Dunn and Robert Henry, provided the floating rate bridge loans from ACRES. The loans will refinance the existing construction debt and redeem the outstanding preferred equity, ensuring a balanced capital structure while optimizing financing terms.

“We’re proud to have partnered with Hathaway Development on the refinance of this three-property portfolio,” said Dunn, senior manager at Walker & Dunlop. “The assignment aligned perfectly with our team’s strengths–deep capital-markets knowledge, disciplined underwriting and the ability to navigate complex structures. Working closely with our trusted lender partner ACRES, we secured attractive first-mortgage financing that optimized proceeds and supported Hathaway’s strategic plan.”

The three properties, all developed by Hathaway, provide 876 luxury units.

Exchange at Juban (Denham Springs) was completed in 2024 and features 264 units. It was refinanced for $44.7 million. Exchange at Blair Stone (Tallahassee, Fla.) was delivered in January and refinanced for $52.4 million. And, Exchange at Indian Trail has 312 units and was completed in January. It was refinanced for $56.2 million.