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Walker & Dunlop Secures $121M Construction Loan for South Florida MXU
Walker & Dunlop secured a $121 million construction loan for Plantation Walk, a master-planned mixed-use development in Plantation. The site, a former mall, is being redeveloped as a mixed-use town center that will feature apartments, office and retail space, as well as a hotel.
Eric McGlynn of Walker & Dunlop secured the financing on behalf of Rescore Property Corp., a Florida-based private REIT founded by Arthur Falcone, Tony Avila, and Bill Powers. The lender was Pacific Western Bank.
The financing supports the next phase of construction, which includes the development of 404 multifamily units and 134,326 square feet of retail space. Plantation Walk is the eighth construction loan that the Walker & Dunlop team has sourced for Rescore. Once complete, the project will include 700 residential rental units, 160,000 square feet of office space and 190,000 square feet of retail space.
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