Dealmaker: Walker & Dunlop Arranges $146M to Refinance Southern California Apartments

(Image courtesy of Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., arranged $145.75 million in refinancing volume and preferred equity for a Southern California multifamily property.

The property, Bryant at Yorba Linda, is a 400-unit master planned community with numerous amenities.

Chris Botsford and Jeff Burns of Walker & Dunlop Capital Markets arranged a senior mortgage loan for Interstate Equities Corporation.

The loan features a five-year term, fixed rate and full-term interest-only payments, with Freddie Mac providing the capital. Walker & Dunlop Capital Markets’ Justin Nelson and PJ Feichtmeier secured preferred equity capital from a leading institutional owner and operator of multifamily communities on behalf of IEC.

“By layering preferred equity on top of a Freddie Mac loan, we were able to deliver the most effective capital strategy,” said Botsford, managing director. “This transaction reflects the ongoing strength of the five-year fixed-rate agency loan market and underscores that clients continue to prioritize five-year fixed-rate paper in the current interest rate environment, with agencies serving as a reliable and strategic source of capital.”