Walker & Dunlop structures $ 92 million acquisition financing for two high-rise office buildings
Walker & Dunlop’s Adam schwartz, Aaron Appel, Keith kurland, and Jonathan schwartz, as good as Michel Ianno, Sean bastien, and Ian hawk organized the financing of a long-standing client, the RMC Group. The team leveraged its extensive network of capital providers, identifying Prime Finance as the ideal lender for Bank of America Tower and Voya as the ideal lender for 65 East State Street. The three-year, interest-only bridging pair has been set up with attractive variable rates.
Both properties have undergone multi-million dollar capital improvements, positioning them as the premier office towers in their respective markets. Walker & Dunlop’s Adam schwartz commented, “We have seen incredible demand for this funding given the best-in-class sponsor and attractive type of asset, despite a challenging financial market landscape during the COVID-19 pandemic. a number of qualified capital providers for these Marquis office assets. “
Bank of America Tower is the only LEED certified office tower in Jacksonville and offers stunning views of the St. Johns River. The 44-story Class A high-rise building features over 662,241 rentable square feet, a 5-story annex with an additional 35,881 square feet, as well as 900 parking spaces. In addition to a new HVAC system, recent upgrades have been made to the property’s amenities, lighting systems, security systems, elevator upgrades, and renovations to all common areas and the lobby.
65 East State Street is a 26-story office tower with approximately 494,487 rentable square feet. Located in the heart of Columbus, Ohio Central Business District, the prime institutional asset is located directly across from the Ohio State Capitol Building on Capitol Square, which is the city’s political and commercial heart. Recent capital improvements include a renovation of the exterior facade, a new conference and fitness center, a renovated lobby and elevator cabins, a renovated exterior patio and new signage for monuments .
Walker & Dunlop has one of the strongest networks in the industry, having organized financings with more than 250 sources of capital in 2020 alone. During the same period, the company completed $ 11.0 billion negotiated loan arrangements. For more information on Walker & Dunlop’s perspective on the apartment market, including expert market insights, leadership and the way forward, visit our new Led by the Insight information center.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered at Bethesda, Maryland, is one of the largest commercial real estate finance companies in United States. The company provides a full suite of capital solutions for all categories of commercial real estate assets, as well as brokerage services for the sale of investments to owners of multi-family properties. Walker & Dunlop is included in the S&P SmallCap 600 Index and has been ranked among the FORTUNE The magazine’s fastest growing companies in 2014, 2017 and 2018. The more than 1,000 Walker & Dunlop professionals in 41 offices across the country have an unwavering commitment to customer satisfaction.
SOURCE Walker & Dunlop, Inc.