Walker & Dunlop Structures $105M for Affordable Multifamily in Landover
Walker & Dunlop, Inc., has structured $105 million in financing for The Verona at Landover Hills, a 727-unit residential complex in Landover, MD. New affordability restrictions were placed on the previously market-rate property upon acquisition.
John Gilmore, Jessica Deeney, and Karl Rincavage of Walker & Dunlop represented the buyer, a joint venture between Dantes Community Partners and the Urban Investment Group within Goldman Sachs Asset Management. The team structured the acquisition financing through Fannie Mae’s Multifamily Affordable Housing platform.
“The availability of affordable housing is an issue of national concern,” said Gilmore. “The Verona at Landover Hills is an excellent example of how the federal government, local municipalities, and private investors can work together to be part of the solution.”
The transaction represents an investment towards Goldman Sachs’ One Million Black Women initiative, a $10 billion investment strategy to narrow opportunity gaps for Black women in the next decade.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.