What's Happening?
Walker & Dunlop, Inc. has successfully arranged $110 million in refinancing for two premier multifamily properties located in Loveland, Colorado, and Durham, North Carolina. The refinancing was structured as floating rate, interest-only bridge loans, secured on behalf of Buckingham Companies. The properties, Plat 4 at Research Triangle in Durham and Plat 10 at the Ranch in Loveland, are luxury garden-style apartment complexes offering a range of amenities and convenient locations. Walker & Dunlop's New York Capital Markets team facilitated the transactions, with ACRE providing the capital to refinance existing construction loans.
Why It's Important?
The refinancing of these properties underscores the strength and resilience of the multifamily real estate market in the U.S. Walker & Dunlop's involvement highlights their significant role in providing capital to this sector, having originated over $30 billion in debt financing volume in 2024. The successful refinancing of Plat 4 and Plat 10 supports Buckingham Companies' position as a leader in multifamily development and management, ensuring continued growth and stability in these regions. This move also reflects the ongoing demand for high-quality residential spaces in rapidly expanding areas like Research Triangle Park and Windsor.
What's Next?
Walker & Dunlop's continued engagement in the multifamily market suggests further opportunities for refinancing and development in similar high-demand areas. As the firm maintains its advisory role, it is likely to support more projects that align with the growing need for residential spaces in urban and suburban settings. Buckingham Companies may leverage this refinancing to explore additional developments or enhancements to existing properties, further solidifying their market presence.
