Walker & Dunlop Lines Up Financing for $146M College Point Logistics Development
Walker & Dunlop Capital Markets arranged $94 million in construction financing toward development of Wildflower Ltd.’s $146-million College Point Logistics Center, a Class A logistics warehouse development located on the Whitestone Expressway in Queens’ College Point neighborhood. The company represented Wildflower Ltd. and joint-venture partner Drake Real Estate Partners to secure the floating-rate construction loan.
“This represents Wildflower’s eighth industrial project in Queens, and we are excited to watch College Point flourish in the years to come,” said Matthew Dicker, partner and CFO of Wildflower.
Set for completion in the second quarter of 2024, College Point Logistics Center will feature 81,000 rentable square feet of industrial space, 160,000 square feet of enclosed parking spanning two floors accessible via a ramp, and 68,000 square feet of surface parking and loading space.
Walker & Dunlop’s Capital Markets team was led by Jonathan Schwartz, Aaron Appel, Mo Beler, Ari Hirt, and Triston Stegall.