Walker & Dunlop Arranges Debt, Equity for Port Chester Multifamily Project

Walker & Dunlop, Inc. has arranged $147.5 million in debt and equity capitalization for the construction of 2 South Main, a 322-unit multifamily project in downtown Port Chester, NY. The sponsorship group is a joint venture between Hyperion, Winter Properties and AIP. 

The Walker & Dunlop Capital Markets team of Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin, and Dawson Jessee arranged the equity investment from Related Fund Management, while Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Stanley Cayre secured construction financing from Arbor Realty Trust. The project is in an Opportunity Zone and also benefits from a 20-year PILOT agreement.

“The successful capitalization of 2 South Main demonstrates the continued demand for well-conceived housing developments that meet both market needs and community priorities,” said Beler. “We structured and sourced the project’s construction financing and equity investment while leveraging public-sector incentives. This enabled us to deliver a comprehensive capital solution that positions the development for long-term success and supports the continued growth of downtown Port Chester.”

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