Walker & Dunlop, Inc. announced today that it structured $26,235,000 in financing for the acquisition of Edentree Apartment Homes. Located in Carrollton, Texas, a submarket of Denton County, the 360-unit, garden-style apartment community is ideally positioned within one of the top-performing metro areas in the United States.
Led by Managing Director Alex Inman, Walker & Dunlop secured a 12-year, fixed rate, full-term interest only loan for the borrower, Lane Star Properties.
The team has extensive experience in financing multifamily properties and is ideally located near the property in Dallas, Texas.
“Alex and his team worked diligently to present me with multiple competitive financing options,” commented Brian Schwartz, President, of Lane Star Properties. “I was then able to choose a rate that best fit my goals and maximized value. Being my first transaction with Walker & Dunlop and Alex, I am thrilled to have partnered with such a skilled group and look forward to more business in the future.”
Alex Inman stated, “Lane Star Properties has a proven history of success in the multifamily space, enhancing communities and providing quality property management. Walker & Dunlop is pleased to play a part in the growth of Denton County.”
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Edentree Apartment Homes is centrally located in one of the fastest growing metro areas in the nation, putting future residents in close proximity to highly acclaimed school districts and major employment hubs. The garden-style apartment community also enjoys close access to Lewisville Lake, LLELA Nature Preserve, Sandy Lake Amusement Park, several golf clubs, and Carrollton’s Blue Trail. The property boasts amenities such as a business center, fitness center, an outdoor kitchen and grilling area, a playground, central laundry facilities, sports courts, and a swimming pool with hot tub. Constructed in 1983, the community has received significant renovations over the past five years.
Walker & Dunlop is a leader in the multifamily space, ranking within the five largest multifamily lenders with Freddie Mac and HUD and the #1 Fannie Mae multifamily lender in 2017. The firm’s GSE originations have also increased by 41.3 percent from 2016 to 2017. For more information about Walker & Dunlop’s financing options and this team’s capabilities, visit our website and read the following press releases:
• Walker & Dunlop Secures $82 Million in Bridge Financing for Lakeside Apartments in Texas
• Walker & Dunlop Originates $100 Million Revolving Credit Facility for Presidium
• $50 Million Loan Closed for Multifamily Property in Jacksonville, Florida by Walker & Dunlop