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Commercial finance company taps into extensive life company relationships to arrange $20M refinance
BETHESDA, Md., Aug. 21, 2014 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) announced today that it arranged $20,000,000 for Stave Properties, LLC to refinance Mountain View Retirement Village, a 188-unit premier seniors housing community in Tucson, Arizona.
Phoenix -based loan originators, Brandon Harrington and Matt Steffen led the team that arranged the life insurance company financing with a 10-year fixed rate term and 30-year amortization. Mountain View Retirement Village offers best-in-class independent and assisted living, and provides services including restaurant-style dining, housekeeping and maintenance services, scheduled transportation, customized assistance, and recreational and wellness activities for its residents.
Matt Steffen commented, "Once we had a complete understanding of our client's business objectives, we produced life company and agency scenarios to provide a comprehensive pool of options for this asset class. By offering an aggressive 10-year fixed rate, complemented by a step-down prepayment, and the ability to lock rate at application, plus the flexibility of working with a balance sheet capital source, the life company financing emerged as the best fit for our client. Our diversified platform, access to capital sources and local market knowledge ensured Stave Properties that they received the best loan execution, tailored to their business plan."
Marv Spatz of Stave Properties, LLC, commented, "This was our first time working with Walker & Dunlop. They provided us with competitive options and delivered exactly what we were looking for in a refinance. It was great to work with a group that has a local presence in the Arizona market."
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, MD , is a leading provider of commercial real estate financing solutions nationwide. Our comprehensive suite of financing solutions allows us to originate loans for our own balance sheet, CMBS conduit, and investment partnerships, or for sale to Fannie Mae, Freddie Mac, HUD, life insurance companies, banks and other CMBS providers. Walker & Dunlop has more than 400 employees located in 20 offices nationwide. For more information, please visit www.walkerdunlop.com and follow us on Twitter at @Walkerdunlop.
SOURCE Walker & Dunlop, Inc.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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