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Walker & Dunlop Team Structures $160M Refi on RXR’s Yonkers Rentals
Walker & Dunlop, Inc. structured $160,000,000 in financing for Sawyer Place, a recently built, Class A multifamily building in Yonkers, NY. Completed in 2020, the property consists of two connected towers with 438 rental units and ground-floor retail.
Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno and Sean Bastian led Walker & Dunlop’s team in structuring the refinance, which replaces the property’s existing construction loan. The team served as exclusive advisor to their client, RXR Realty, and identified Mesa West Capital as the ideal lender and arranged a five-year, floating rate non-recourse bridge loan.
“”Downtown Yonkers is increasingly becoming a desirable live-work-play destination with an artistic and cultural scene that is redefining the neighborhood,” said Appel. “The capital markets saw the value in the location and the superior amenities offered by Sawyer Place, resulting in a very competitive financing.”
- ◦Financing
