New York & Tri-State + Uptown/Bronx + Finance | January 18, 2023

Walker & Dunlop, Inc. structured $120 million in financing for the rehabilitation of a three-building affordable apartment portfolio in Harlem

Walker & Dunlop Structures Financing for Rehab of Northern Manhattan Portfolio

Walker & Dunlop, Inc. structured $120 million in financing for the rehabilitation of Audubon Houses, Bethune Gardens, and Thurgood Marshall Plaza, a 557-unit, three-building Harlem portfolio. The financing was a joint effort between Dantes Partners, The New York City Housing Authority, the New York Housing Development Corporation, Walker & Dunlop, Freddie Mac and JP Morgan Chase.

John Gilmore and his production team at Walker & Dunlop arranged the financing execution, which addressed the unique capital and ongoing operation and maintenance needs of the three properties, which were built between 1962 and 1985.

“This critical project required a wide range of affordable finance expertise and extensive collaboration” said Sheri Thompson, Walker & Dunlop’s EVP of affordable housing and investment management. “This would not have been possible without our commitment to affordable and workforce housing, coupled with our long-term relationships with Dantes Partners and Freddie Mac.”

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Walker & Dunlop's GilmoreWalker & Dunlop's Thompson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).