{"id":6213,"date":"2020-04-23T13:48:00","date_gmt":"2020-04-23T13:48:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/2020\/04\/23\/walker-dunlop-arranges-sale-of-six-texas-apartment-communities-totaling-325-units\/"},"modified":"2020-04-23T13:48:00","modified_gmt":"2020-04-23T13:48:00","slug":"walker-dunlop-arranges-sale-of-six-texas-apartment-communities-totaling-325-units","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/04\/23\/walker-dunlop-arranges-sale-of-six-texas-apartment-communities-totaling-325-units\/","title":{"rendered":"Walker & Dunlop Arranges Sale of Six Texas Apartment Communities, Totaling 325 Units"},"content":{"rendered":"
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Walker & Dunlop, Inc. announced today that its investment sales group, Walker & Dunlop Investment Sales, completed the sale of six multifamily communities in Denton, Texas<\/span>. Located in a northern suburb of Dallas-Fort Worth<\/span>, the portfolio comprises Locust 210 Lofts, Victoria Heights, Victoria Station<\/span>, Victoria Village<\/span>, The Adagio, and Locust Street Terrace Apartments.<\/p>\n<\/div>\n

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Denton Portfolio Sale<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Totaling 325 units and more than 18,000 square feet of commercial space, the portfolio represented an excellent opportunity to invest in the high barrier-to-entry Denton<\/span> submarket, which is experiencing significant in-migration. The popular downtown city-center location positions each property to experience substantial organic rent growth through lease-over-lease gains.<\/p>\n<\/div>\n

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The Walker & Dunlop Investment Sales team was led by Managing Director and middle-market expert, Kyle Palmer<\/span>. Based in Atlanta, Georgia<\/span>, the team effectively facilitated the transaction and served as advisor to both the sellers and buyer of the properties. All parties were local, private-equity investors. The acquisitions expand the buyer’s existing Texas<\/span> portfolio, which includes Madison Park<\/span>, Wyndham Pointe<\/span>, and Oasis Springs.<\/p>\n

Following the sale, Mr. Palmer partnered with Jeremy Nussbaum<\/span>, a Senior Director in Walker & Dunlop’s Capital Markets group, to source a streamlined bridge financing solution for the buyer through a national debt fund. The loan terms included an attractive rate of 4.14 percent, interest-only for three years, and a loan to value of 80 percent.<\/p>\n

Each of the Class A, mid-rise properties were built between 2009 and 2014 and were 94 percent leased at the time of sale. The classic unit interiors were highly accretive to the future yield profile, offering a double-digit Year-1 return. The buyer intends to invest $3.2 million<\/span> toward interior renovations and exterior capital improvements to enhance the overall, live-work-play, experience for the tenants.<\/p>\n

Walker & Dunlop is a leader in multifamily property sales and financing with $5.4 billion<\/span> in property sales volume completed in 2019 and $26.6 billion<\/span> in debt originations. For information about Walker & Dunlop’s view on the apartment market, including insights on the potential impact of COVID-19 on commercial real estate owners, watch our recent webcasts on YouTube.<\/p>\n

About Walker & Dunlop
<\/strong>Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland<\/span>, is one of the largest commercial real estate finance companies in the United States<\/span>. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE<\/em> Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 800+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.<\/p>\n<\/div>\n<\/div>\n

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See Campaign: <\/strong>https:\/\/www.walkerdunlop.com<\/a>
Contact Information:<\/b>
https:\/\/www.walkerdunlop.com<\/p>\n

Tags:<\/b>
<\/a>, Wire Real Estate<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n

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Contact Information:<\/h3>\n

https:\/\/www.walkerdunlop.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Walker & Dunlop, Inc. announced today that its investment sales group, Walker & Dunlop Investment Sales, completed the sale of six multifamily communities in Denton, Texas. Located in a northern suburb of Dallas-Fort Worth, the portfolio comprises Locust 210 Lofts, Victoria Heights, Victoria Station, Victoria Village, The Adagio, and Locust Street Terrace Apartments. Denton Portfolio Sale Totaling 325 units and more than 18,000 square … Continue reading Walker & Dunlop Arranges Sale of Six Texas Apartment Communities, Totaling 325 Units<\/span><\/a> Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22,54,18],"tags":[],"class_list":["post-6213","post","type-post","status-publish","format-standard","hentry","category-english","category-united-states","category-wire","category-wire-real-estate"],"yoast_head":"\nWalker & Dunlop Arranges Sale of Six Texas Apartment Communities, Totaling 325 Units - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ipsnews.net\/business\/2020\/04\/23\/walker-dunlop-arranges-sale-of-six-texas-apartment-communities-totaling-325-units\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walker & Dunlop Arranges Sale of Six Texas Apartment Communities, Totaling 325 Units - Business\" \/>\n<meta property=\"og:description\" content=\"Walker & Dunlop, Inc. announced today that its investment sales group, Walker & Dunlop Investment Sales, completed the sale of six multifamily communities in Denton, Texas. 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