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Walker & Dunlop Arranges $70M Financing for East Bay Apartment Duo

Walker & Dunlop Arranges $70M Financing for East Bay Apartment Duo

Multifamily financing firm Walker & Dunlop has completed $70 million in financing across two apartment communities in San Ramon, CA. Led by Jeff Kearns, Walker & Dunlop arranged the financing on behalf of a California-based, privately held real estate investment company.

The properties are:

-Falcon Bridge at Gale Ranch (pictured), a Class-A, 256 unit complex located on Copperset Road. The W&D team secured a $47 million non-recourse loan with a 10-year fixed rate provided by a commercial bank.

-Valencia at Gale Ranch, a Class-A, 186-unit complex located on Goldenbay Avenue. The W&D team arranged a $23 million non-recourse, fully-amortized loan with a 10-year fixed rate. This community has affordability restrictions, with 44% of the units reserved for households under 80% AMI.

“As incomes fail to keep up with rent increases and the supply of affordable options remain limited, demand continues to increase. We are confident that this community will provide high-quality living for working families in this growing market,” said Kearns.


Inside The Story

Walker & Dunlop's Jeff KearnsFalcon Bridge at Gale RanchValencia at Gale Ranch

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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