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Walker & Dunlop Structures Refi on Brooklyn Heights MF
Walker & Dunlop has structured a $52.5-million refinance on 153 Remsen, a newly constructed, Class A multifamily property in Brooklyn Heights. The Walker & Dunlop team of Tom Toland, Al Rex, Hal Reinauer and Marty McGrogan arranged the refi on behalf of the developers, Quinlan Development Group and Lonicera Partners.
A life insurance company provided the permanent, 12-year, fixed rate loan for 153 Remsen, which has seen brisk lease-up since opening in June 2017. The financing will be interest-only for part of the term.
“While the capital markets have a strong appetite for new construction in key markets such as this one, high leverage, long-term financing for properties in lease-up can still be challenging to find,” said Toland. “153 Remsen is an irreplaceable property in an area with high barriers to entry. This, coupled with excellent sponsorship and our strong lender relationships, allowed us to meet the developers’ needs.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

