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Walker & Dunlop Closes $707M Credit Facility for Student Housing Portfolio
Bethesda, MD-based Walker & Dunlop, Inc. funded a $707-million credit facility for the acquisition of 23 student housing properties for Scion Student Communities LLC. The borrower is a joint venture among The Scion Group LLC, General Investment Corporation of Singapore and Canada Pension Plan Investment Board.
Walker & Dunlop’s Will Baker and Brendan Coleman structured a Fannie Mae Credit Facility with a mix of fixed and floating rate loans with staggered maturities. Since 2016, Walker & Dunlop has financed four large acquisition pools for Scion, totaling more than $2 billion in debt.
In the multifamily lending space, the commercial real estate company has emerged as the No. 1 Fannie Mae DUS lender in 2017, and continued to grow its presence in the student housing space, originating $1.93 billion in student housing loans in 2017.
*Pictured 8N Lofts, Student Housing, University of Nebraska, Lincoln NE
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- ◦Financing
