BETHESDA, Md., Oct. 21, 2014 /PRNewswire/ -- Walker &
Dunlop, Inc. (NYSE: WD) and Fannie Mae (FNMA/OTC) announced today
the recent closing of a $108,000,000
loan for a manufactured housing community located in Lakeland, Florida. Walker & Dunlop worked
with Keystone Commercial Capital on behalf of the borrower, Blair
Group, to rate lock the loan 15 days after receiving the signed
loan application from the borrower.
Walker & Dunlop's team, led by Senior Vice President &
Managing Director, Brendan Coleman, partnered with Keystone
Commercial Capital's Ryan Nelson and
Charlie Williams to originate the
10-year, fixed-rate loan with 4 years of interest-only. The loan is
somewhat unique in that it carries a 7-year yield maintenance
period, providing the borrower with significantly greater
prepayment flexibility. Mr. Coleman commented, "Due to Fannie Mae's
innovative loan structure, we were able to tailor this cash-out
loan with a fantastic long-term interest rate and maximum
pre-payment flexibility to the borrower. It was quite a feat to
rate lock the deal in such a short period of time, but we were
determined to take advantage of these historically low interest
rates. Walker & Dunlop is proud to have now provided financing
for Blair Group's entire MHC portfolio, a true testament to the
depth of our collective experience in the manufactured housing
sector."
Jeffery Hayward, Senior Vice
President and Head of the Multifamily Mortgage Business, Fannie Mae
commented, "We are thrilled to have partnered with Walker &
Dunlop on the Cypress Lakes MHC transaction. Fannie Mae has been
providing liquidity to the manufactured housing market for more
than a decade and we are excited to have provided over $8 billion in volume since the inception of our
program. Financing manufactured housing communities is not
only good business, it also provides affordable ownership and
rental options for many families, particularly for seniors,
throughout the country."
About Walker & Dunlop
Walker & Dunlop (NYSE:
WD), headquartered in Bethesda,
MD, is a leading provider of commercial real estate
financing solutions nationwide. The firm's comprehensive suite of
financing solutions allows us to originate loans for our own
balance sheet, CMBS conduit, and investment partnerships, or for
sale to Fannie Mae, Freddie Mac, HUD, life insurance companies,
banks and other CMBS providers. Walker & Dunlop has more than
400 employees located in 20 offices nationwide. For more
information, please visit www.walkerdunlop.com and follow us on
Twitter at @Walkerdunlop.
About Fannie Mae
As the largest source of financing
in the multifamily sector, Fannie Mae remains a reliable partner
across the spectrum of the nation's rental housing needs.
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SOURCE Walker & Dunlop, Inc.