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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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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.