W&D Finances Over $135M for Six Rhode Island Properties 

Walker & Dunlop, Inc. arranged $135.3 million in HUD loans for six Rhode Island multifamily properties between October 2023 and February 2024.  

“This partnership is helping to fill a crucial housing accessibility gap. We are now able to sustain affordability across these six assets, ensuring long-term affordability for the next several decades and delivering over 1,000 affordable units to residents in need,” said Chris Rumul, senior managing director of FHA Finance at Walker & Dunlop.  

The loans, utilizing HUD’s FHA Section 223(f) program, were arranged for Carpionato Group, a New England real estate development company. The financing allows the client to secure fully amortizing long-term loans and the option to cash out equity for necessary repairs. Carpionato Group, with a $1.5 billion development pipeline, specializes in integrated real estate services. This partnership aims to sustain affordability across the six properties, delivering over 1,000 affordable units to residents in need. 

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