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Walker & Dunlop Secures $204M for Brooklyn’s The Axel Multifamily
Walker & Dunlop, Inc. has secured $204 million in loan proceeds from MF1 Capital to refinance The Axel, a 29-story mixed-use multifamily and commercial asset with 284 multifamily units at 550 Clinton Ave. and 539 Vanderbilt Ave. in Brooklyn.
The Walker & Dunlop team, comprised of Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz and Sean Bastian, exclusively advised the sponsor, Hope Street Capital, on the refinancing of the Morris Adjmi-Architect designed building. A team led by Michael Squires and Will Trotsky handled the financing for MF1 Capital.
“The Axel represented an opportunity to refinance a top-tier development project rapidly approaching completion for an institutional-quality sponsorship team,” said Appel. “Having already leased a portion of the multifamily tower with tenants, Hope Street was able to provide lenders with an early proof of concept in a challenging market environment.
- ◦Financing

