Dealmaker: Walker & Dunlop Arranges $170M for Mixed-Use Project in Salt Lake City

(Image courtesy of Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., announced it secured $170 million to refinance a mixed-use complex in downtown Salt Lake City.

Walker & Dunlop New York Capital Markets, led by Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly and Jackson Irwin, served as an exclusive advisor to Bridge Investment Group, with financing provided by Fannie Mae via its near-stabilization program.

The complex is called Post District and features 580 residential units. It also offers nearly 26,000 square feet of retail space and 498 parking spaces.

It opened in December 2023 and was developed by joint venture team Bridge Investment Group, Blaser Ventures and Lowe Property Group as an opportunity zone development.

“Post District is a dynamic urban redevelopment that reflects the strong demand for thoughtfully designed, mixed-use communities in Salt Lake City’s urban core,” said Reimer, Managing Director of New York Capital Markets at Walker & Dunlop. “Located at the grand entrance to downtown Salt Lake City, Post District stands as a pioneering example of opportunity zone development, transforming a once-underutilized block of warehouses into a vibrant, premier live-work-play destination.”

Walker & Dunlop New York Capital Markets also arranged $157.5 million in loan proceeds to refinance Post District in November 2023.