Kore completed the Palmilla Apartments in Pensacola last year, and has obtained a $49.5 million Fannie Mae Loan. Walker & Dunlop arranged the refinancing of the 240-unit multifamily community located at 51 S. Coyle St. in Pensacola. Will Baker and Doug McDaniel of Walker & Dunlop’s Birmingham office arranged the five-year, fixed-rate loan on behalf of Kore. The borrower will use the proceeds to reach stabilization at Palmilla and pay off construction debt.

Palmilla features studio, one-, two- and three-bedroom units ranging in size from 588 to 1,618 square feet. Amenities include a private patio/balcony, pool, fitness center, clubhouse, putting green and electric vehicle charging stations.

Pensacola is the westernmost city in the Florida Panhandle with a population of 53,000 residents. The town is home to the Naval Air Station Pensacola, which has a total of 23,000 military and civilian employees.

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