Bethesda-based commercial real estate services and finance company Walker & Dunlop Inc. announced Friday that it closed a $23.985 million loan for The Trading Post Shopping Center, a 127,764 square-foot, revitalized multi-tenant retail property in Clovis, California.
More than two years ago, Managing Director Jeff Hudson of Walker & Dunlop arranged a construction line of credit to fund the property’s acquisition, rehab, and tenant improvements. At the time, the shopping center was only 20 percent occupied with two unanchored spaces. The borrower has since renovated, expanded, and revitalized The Trading Post Shopping Center with national and regional credit tenants, achieving over 95 percent occupancy and an incredible increase in activity. The local ABC affiliate’s evening news even highlighted the property’s renovation and transformation success story in its own segment last year.
Through the first half of 2017, Walker & Dunlop closed 59 retail loans, nearly doubling the number of retail transactions closed in the first half of 2016.