Walker & Dunlop Completes Sale & Financing for Multifamily in San Antonio
Walker & Dunlop, Inc., based in Maryland, announced today that it brokered the sale and arranged acquisition financing for , a 224-unit multifamily property in San Antonio.
Walker & Dunlop’s Ryan Epstein, Forrest Bass, and Matt Pohl represented the buyer and the seller in the disposition. Tom Toland and Matt Newton arranged the acquisition bridge financing on behalf of the buyer, Pegasus Real Estate, and their equity partners, Thackeray Partners. The financing features a five-year term, full-term interest only payments, an attractive low rate, and a fully funded value-add plan for the borrower to make property improvements. NOAH Apartments is a garden-style apartment community built in 1994.
“NOAH is a well-located, institutional quality asset in arguably the best suburban neighborhood in San Antonio, Alamo Heights,” said Jonas Levy, managing partner of Pegasus. “The attractive going-in yield at the property coupled with favorable financing and rent growth trends made the acquisition particularly desirable for Pegasus and our investors. The property fits well with our strategy of identifying unique, high-quality assets in desirable locations.”
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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