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Walker & Dunlop, Inc. announced today that it structured $5,200,000<\/span><\/strong> in permanent financing for Amaryllis Park Place<\/span>,<\/strong> a 62+ age-restricted, 84-unit affordable housing development that will be constructed utilizing nine percent Low Income Housing Tax Credits. This transaction represents the first deal in company history led by an all-female team, inclusive of production, underwriting, and closing.<\/p>\n Walker & Dunlop Senior Director Heather Olson<\/span> identified Freddie Mac’s Targeted Affordable Housing platform as the ideal program for the developers, a joint venture between the Sarasota Housing Authority, Calston Advisors, LLC, and Smith & Henzy Advisory Group. Olson’s production team coordinated among several different parties to structure the complex affordable financing transaction; in addition to Freddie Mac, the team partnered with the construction lender, Bank of America, and the tax credit equity partner, Enterprise Community Partners. The W&D team also included GSE Underwriter Emily Worcester, Transaction Manager Jessica Deeney<\/span>, and Senior Vice President & GSE Closing Manager, Nancy Sexton<\/span>.<\/p>\n Ms. Olson commented, “It is such an honor to play a part in the first all-women led team at W&D. W&D is committed to creating a diverse workforce and encourages the advancement and success of its female employees. Women currently represent one-fourth of W&D’s senior leadership team, and we have set a goal to nearly double female representation in both management positions and top company earners by 2025. Additionally, W&D has set a goal to finance $10 billion<\/span> in affordable housing in the next five years, and because of partners like Smith & Henzy, we will be able to achieve that goal.”<\/p>\n “It has been a long and windy road, but through sheer determination and great partners, we have successfully closed Amaryllis Park Place<\/span>, and construction is starting. With Sarasota’s<\/span> significant population of elderly residents, coupled with limited affordable housing options, this development will fill a critical need for our community,” said Sarasota Housing Authority CEO William Russell<\/span>.<\/p>\n Darren Smith<\/span>, Principal of Smith & Henzy, added, “It was a pleasure to work with Heather and the entire W&D team to close this deal. 42 of the 84 units will have long-term Section 8 contracts and provide much needed rental assistance to our elderly population in Southwest Florida<\/span>. We have worked with W&D for over five years, closing as many as 10 deals financed by Freddie Mac. We truly value our relationship with W&D and look forward to continuing to work with Heather and her team to provide more affordable housing in Florida<\/span>.”<\/p>\n Once complete, Amaryllis Park Place<\/span>, a three-story garden-style apartment building, will have community amenities including a leasing office, business center, community room, fitness center, picnic areas, laundry facilities, and elevators. In conjunction with the nine percent LIHTC equity provided, the borrower will enter into a 15-year term HAP Contract with the Sarasota Housing Authority at construction closing, providing Project-Based vouchers for 42, or 50%, of all units at the site.<\/p>\n Walker & Dunlop is one of the largest multifamily lenders and top non-bank affordable lenders in the United States<\/span>. For more information about Walker & Dunlop’s commitment to corporate responsibility, including our Diversity & Inclusion and affordable housing initiatives, download our 2020 ESG summary.<\/p>\n About Walker & Dunlop Tags:<\/b> http:\/\/www.walkerdunlop.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
<\/strong>Walker & Dunlop, 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 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.<\/p>\nSee Campaign: <\/strong>http:\/\/http:\/\/www.walkerdunlop.com<\/a>
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Walker & Dunlop, Inc. announced today that it structured $5,200,000 in permanent financing for Amaryllis Park Place, a 62+ age-restricted, 84-unit affordable housing development that will be constructed utilizing nine percent Low Income Housing Tax Credits. This transaction represents the first deal in company history led by an all-female team, inclusive of production, underwriting, and closing. Walker & Dunlop Senior … Continue reading Walker & Dunlop Provides Financing for 84-Unit Affordable Housing Development in Sarasota<\/span><\/a> Continue Reading