Walker & Dunlop Provides $67.7 Million in Fannie Mae Financing for Portfolio of Manufactured Housing Communities
BETHESDA, Md., July 19, 2012 /PRNewswire/ -- Walker & Dunlop, Inc. (WD) (the "Company") announced today that its subsidiary, Walker & Dunlop, LLC recently provided $67,680,000 in Fannie Mae financing to Hometown America, LLC, for a portfolio of Manufactured Housing Communities ("MHC").
The portfolio consists of five properties and over 1,800 home sites on over 500 acres, located in New Jersey, Florida, Illinois, and Massachusetts. All of the transactions were refinances with the exception of Little Manatee Springs, located in Wimauma, Florida, which received acquisition financing. This portfolio is one of the largest Fannie Mae MHC deals executed in 2012 and is evidence that permanent financing for the manufactured housing market continues to remain active nationwide.
The properties are typically Class A, age-restricted (55+) communities that offer amenities such as pools and recreation centers. Berryman's Branch consists of 309 home sites on over 79 acres and is located in Vineland, New Jersey. Tara Woods is located in North Fort Myers, Florida and is undergoing construction to add 152 pads to the community for a total of 732 home sites. Maple Valley is located in Manteno, Illinois and offers 276 pads. Leisurewoods Taunton is located in Taunton, Massachusetts and offers 222 double-wide sites on over 74 acres. Little Manatee Springs offers 265 home sites and a competitive amenity package.
Walker & Dunlop Senior Vice President, Multifamily Finance, Will Baker, (301/215-5510, email@example.com) led the Walker & Dunlop team.
About Walker & Dunlop
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. is one of the leading commercial real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS®, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups are focused on lending to property owners, investors, and developers of multifamily properties across the country. Walker & Dunlop's proprietary Interim Loan Program provides financing for multifamily properties that do not currently qualify for permanent financing. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States, securing capital from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investments group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity.
SOURCE Walker & Dunlop, Inc.