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Walker & Dunlop Secures $50M Construction Loan for Lakeland OZ Project

Walker & Dunlop has structured a $50.2 million construction loan for Mirrorton Apartments, a 305-unit multifamily development in Lakeland.

The garden-style apartment project is subject to tax incentives awarded by the City of Lakeland due to its workforce housing component. The property is also located within a designated opportunity zone census tract.

Keith Melton, David Strange, Livingston Hessam and Jeremy Pino of Walker & Dunlop secured the financing on behalf of the developer, Framework Group. The Walker & Dunlop team structured the debt through the United States Department of Housing and Urban Development’s 221(d)(4) offering, and leveraged the agency’s Green mortgage insurance premium (MIP) reduction program to secure a favorable interest rate.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Financing