Walker & Dunlop Arranges Financing on Build-for-Rent in Antioch
Walker & Dunlop arranged $30,388,000 in construction financing for The Clublands of Antioch by Moda Homes, a 110-unit single-family rental community in Antioch, IL. The project is being developed by Moda Homes, which has engaged Ryan Homes as the homebuilder.
The financing was arranged by Eric McGlynn, managing director within Walker & Dunlop’s Capital Markets group and a member of its Build-For-Rent (BFR) and Single-Family Rental (SFR) Practice Group. The loan was provided by CoreVest Finance, a division of Redwood Trust.
“Moda has significant land holdings in the area and big plans for developing additional communities, and CoreVest has been a great partner in helping to make that vision a reality,” said McGlynn.
The new development will sit within The Clublands of Antioch, a 1,000-unit master-planned community with approximately 450 existing homes. Once complete, the development will include a mix of one- and two-story luxury homes averaging 1,719 square feet.
- ◦Financing