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California  + Bay Area  + Finance  | 

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.

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Inside The Story

Walker & Dunlop's Burns

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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