Walker & Dunlop Arranges $86M Refi for Flushing Affordable Quartet

Walker & Dunlop arranged an $86,443,000 Freddie Mac refinancing of a 506-unit multifamily portfolio in the Flushing neighborhood of Queens. The loan was originated on behalf of Iris Holdings Group, a national affordable housing preservation and investment firm, and refinances the portfolio’s existing debt while supporting its long-term affordability.

The Flushing Preservation Portfolio is comprised of four elevator buildings at 44-15, 45-15 and 45-35 Colden St. and 137-20 45th Ave. The 481,000-square-foot portfolio features covered parking, views of Kissena Corridor Park and features a mix of studio, one-bedroom, two-bedroom and three-bedroom units.

Iris Holdings Group partnered with the New York City Department of Housing Preservation and Development in 2024 to preserve this project at varying levels of affordability for the next 40 years. Walker & Dunlop Affordable Housing Debt and Capital Markets Real Estate Finance, led by John Gilmore and Harvey Pava, arranged the fixed-rate financing.

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