Firm Provides Freddie Mac Financing For Apartment Communities

Posted by Orb Staff on February 21, 2012 No Comments
Categories : FYI

Walker & Dunlop LLC says it recently provided $30.32 million in financing for two multifamily properties: Ocean Oaks, located in Port Orange, Fla., and Reflections, located in Casselberry, Fla.

The acquisition loans for both garden-style apartment communities were structured under Freddie Mac's Capital Markets Execution program. Both loans were structured with a 10-year term (four years interest-only), followed by a 30-year amortization. The loans were underwritten to an 80% loan-to-value with a 1.25 debt-service coverage ratio.

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