BETHESDA, MD., August 11, 2022 /PRNewswire/ — In an uncertain and ever-changing economic environment, Walker & Dunlop’s growing New York Capital Markets team continues to gain momentum by guiding clients in securing various types of financing for all asset classes. Over the past 30 days, the team has closed more than $1 billion in financial market activity across the country.
Directed by Aaron Call, Keith Kurland, Jonathan Schwartzand Adam Schwartz, the group provides the expertise and market connections to help customers meet their financing needs. Their success in this volatile financial market landscape reflects their multi-faceted ability to source aggressive capital from virtually every type of lender and capital provider in today’s market.
“We live in uncertain times, but that doesn’t mean we should sit on the sidelines. Despite continued market volatility and a more conservative funding landscape, our team’s expertise from top to bottom of the stack of capital has allowed us to continue to close complex transactions for our clients across the country,” said Aaron Call. “Our expertise and deep relationships with the most active lenders and capital providers in the market have allowed us to stay ahead of the curve and tailor financing solutions specific to our business plans and unique needs. clients.”
Some recent transactions include:
The stream – $388 million: Bank of America’s Walker & Dunlop structured financing for The stream located at 565 and 547-557 Fulton Street, a development consisting of 448,000 leasable square feet of luxury mixed-use multi-family and commercial space located at the intersection of Fulton Street, Flatbush Avenue Extension and DeKalb Avenue in Downtown Brooklyn. The unique bookend development is located adjacent to some of the from Brooklyn the most popular thoroughfares, steps from Fulton Mall and 5 minutes walk from Barclays Center.
452 Fifth Avenue – $385 million: Walker & Dunlop stepped in after a failed sale in May to arrange a refinance on behalf of the property owner, PBC. The team quickly identified JP Morgan Chase as the optimal lender to secure a variable rate refinance for the 885,000 square foot office building. The financing will allow PBC to repay existing debt and fund future capital expenditures and lease costs as it repositions the asset.
100 Church Street – $370 million: The team arranged a floating rate refinance for SL Green Realty Corp, selecting Aareal Capital as the lender after an extensive marketing process. With the New York City as an anchor tenant, the Lower Manhattan property offers more than one million square feet of office space at the intersection of TriBeCa and the Financial District.
95 Morton Street – $155 million: Walker & Dunlop has arranged financing for the acquisition of the property by Meadow Partners with Deutsche Pfandbriefbank AG as lender. Built in 1911, the West Village property is home to tenants including Venmo, Paypal, Integral Ad Science and Fanatics, a rapidly growing esports company that plans to occupy 75,000 square feet of the 220,000 square foot building.
130 Fifth Avenue – $77 million: As exclusive advisor to the Olnick Organization, Walker & Dunlop arranged the proceeds of the New York Community Bank loan to refinance 130 Fifth Avenue, a well-located office building in the center of the Flatiron District. Eleven stories tall, the property is just blocks from Union Square Park, Gramercy Park and Madison Square Park and benefited from the limited supply of Class A office space in the immediate submarket, resulting in a rental base with long-term leases and a strong economy. The original seven-year loan includes four years of interest-only payments.
“I would like to congratulate the New York team on their recent success and know the momentum will continue, given their strong pipeline. As we continue to grow our team and capital markets capabilities, we offer our clients deep relationships with more than 350 sources of capital across the country, including banks, insurance companies, alternative lending and commercial mortgage-backed securities conduits,” said Susan MelloExecutive Vice President and Group Head, Walker & Dunlop Capital Markets.
In 2021, the Walker & Dunlop Capital Markets segment secured more than 1,300 loans and equity investments totaling nearly $30 billion from capital providers other than GSE. This extensive experience has made him a leading advisor across all asset classes to many of the industry’s leading developers, owners and operators. To learn more about Walker & Dunlop’s various financing options, visit our website.
About Walker & Dunlop
Walker and Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry in United States, enabling real estate owners and operators to bring their vision for communities to life – where Americans live, work, shop and play. Our people, our brand and our technology make W&D one of the most insightful and customer-focused companies in our industry. With over 1,400 employees in all major US marketsWalker & Dunlop has consistently been named one of FortuneThe best places to work® and is committed to making the commercial real estate industry more inclusive and diverse while create meaningful social, environmental and economic change in our communities.
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