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California  + Bay Area  + Finance  | 

Walker & Dunlop Secures $91M Loan for Vallejo Apartments

Walker & Dunlop said Thursday it arranged $91.45 million in loan proceeds to refinance Blue Rock Village, a 560-unit, Class-B, garden-style multifamily property located in Vallejo. Walker & Dunlop Multifamily Finance’s Bryan Frazier and Blake Hockenbury arranged the loan on behalf of long-term client Prime Residential. The team secured a 10-year, full-term interest-only loan at a fixed rate from Freddie Mac.

“This transaction not only strengthens the asset’s long-term financial position—it reflects a relationship built on trust, performance, and shared vision,” said Frazier. “We would like to thank Prime for continuing to put their confidence in our team. It’s an honor to support their continued success.”

Blue Rock Village was developed in two phases, but now functions as a unified, cohesive residential community. The property consists of 41 buildings, 38 of them residential, situated on 35.69 acres. Residents have access to a spa, swimming pools, dog parks and other amenities.

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Walker & Dunlop's Frazier

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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