Dealmaker: Walker & Dunlop Secures $91M for Blue Rock Village in California

(Illustration: Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., arranged $91.45 million to refinance Blue Rock Village, a 560-unit garden-style multifamily property in Vallejo, Calif.

Walker & Dunlop Multifamily Finance’s Bryan Frazier and Blake Hockenbury arranged the loan for long-term client Prime Residential. The team secured a 10-year, full-term interest-only loan at a fixed rate from Freddie Mac, McLean, Va.

Blue Rock Village, a Class-B asset, consists of 41 buildings, 38 residential buildings plus a leasing office, fitness center and maintenance building, on 35.6 acres.