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Acacia Scores $113M Acquisition Debt with Fast-Tracked Deal
Walker & Dunlop, Inc. facilitated the $113-million acquisition financing for 299 Franklin, a Class A multifamily community in Redwood City. The Walker & Dunlop Multifamily Finance team, led by Jeff Burns, Chris Botsford, Rene Alvarez, Jeff Conahan and Matt DeMarche, arranged the financing for longtime client Acacia Capital.
Amid a highly competitive financing landscape, the team identified Fannie Mae as the lender willing to expedite the project with an aggressive offer. The entire process closed in 19 days.
“We were happy to work alongside Acacia to exceed their expectations and close this deal in record time,” said Burns.
Built in 2015, the 304-unit, fully market-rate apartment community includes studio, one-, and two-bedroom residences, including 11 direct-access townhomes, with an average unit size of 845 square feet. Amenities include access to a rooftop deck, fitness center, swimming pool and spa deck, business and resident lounges, bicycle parking and electric vehicle charging stations.
- ◦Financing



