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Walker & Dunlop completes sale, $44.253 M financing for Ga. multifamily property
Listen to this articleBethesda-based commercial real estate finance company Walker & Dunlop Inc. announced Friday it completed the sale and structured $44.253 million in financing for the Century New Holland, a resort-style apartment community in Gainesville, the primary business center in Georgia. The assignment was completed on behalf of Centennial Holding Company, which has acquired and financed two additional assets, Century Avenues in Lakeland, Florida, and Century at the Ballpark in Lawrenceville, Georgia, through Walker & Dunlop’s property sales group within the past year. Walker & Dunlop facilitated the sale and financing for all three properties.
The Walker & Dunlop financing team was led by Taylor Williams, managing director in the company’s Capital Markets group. Drawing on his deep knowledge of capital providers and the company’s strong relationship with the Government-Sponsored Enterprises (GSEs), the team identified Fannie Mae and Freddie Mac as the ideal lending partners for Centennial. To mitigate the ever-changing interest rate environment, the team leveraged Freddie Mac’s Early Rate Lock program, ensuring an attractive financing rate for Century New Holland. The long-term, fixed rate loan also features an interest-only period of five years.
Walker & Dunlop’s property sales team comprised Brian Moulder, Chris Goldsmith and Sean Williams. The group represented the sellers of each property and served as broker and advisor for the disposition. Both Century Avenues and Century New Holland were offered on an off-market basis.
