Walker & Dunlop Provides $340M Acquisition Financing for Cortland
Bethesda, MD-based Walker & Dunlop, Inc. structured $340,097,797 in financing for Atlanta-based Cortland’s landmark acquisition of PURE Multi-Family REIT. The $1.2-billion transaction comprised 22 properties with a total of 7,085 units.
Walker & Dunlop secured debt for nearly half of the broader portfolio: eight distinct multifamily properties, all of which are located in major metropolitan areas across the United States Sunbelt. The portfolio includes 2,170 units located within urban or high-density suburban submarkets, including Dallas, Houston, and Phoenix.
The Walker & Dunlop financing team was led by a New York City Capital Markets team of Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Michael Ianno. The financing via Deutsche Bank includes flexible call protection and extension options at a floating rate.
Walker & Dunlop’s Kurland says, “We are honored by the faith and confidence Cortland had in our team to advise on one of their largest acquisitions in its history.”
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