Dealmaker: Walker & Dunlop Arranges $15M Refinance for Los Angeles Multifamily

(Image courtesy of CRCD Partners)

Walker & Dunlop, Bethesda, Md., arranged a $14.5 million loan to refinance an affordable apartment community in Los Angeles.

The project development team was led by the Coalition for Responsible Community Development, and also includes New Economics for Women and the Amity Foundation as co-members of the managing general partner.

The Walker & Dunlop Affordable Production team led by Jeff Kearns arranged the 16-year fixed-rate loan with three years of interest-only provided by Freddie Mac on behalf of CRCD Partners, the administrative general partner of the ownership entity and the entity responsible for the project’s development.

The Ruth Teague homes were completed in 2024 using 9% tax credits. Nearly all the units provide permanent supportive housing for transitional age youth, families and veterans in need of long-term services. Many units also have project-based vouchers or VASH Project-Based Vouchers, provided by the Housing Authority of the City of Los Angeles. Six units are designated for mobility-impaired tenants; three are set aside for audio/visually impaired tenants.