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Walker & Dunlop Arranges $110M Construction Loan for BK MF
Walker & Dunlop has arranged a $110 million loan for 880 Atlantic Avenue, a 246-unit Class-A multifamily development in Prospect Heights, Brooklyn. QuadReal Property Group served as the lender. The loan will fund ongoing construction costs.
880 Atlantic Avenue is located near Prospect Park and Fulton Mall. The development features studios one and two-bedroom apartments. The Walker & Dunlop New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and William Herring, acted as exclusive advisors to EMP Capital Group.
“Situated just down the street from 1034 Atlantic, another recent project, 880 Atlantic Avenue stands poised for success. The project will deliver market rate and affordable housing to the Brooklyn market and with EMP’s adept ownership and management of neighboring properties, we’re confident in the project’s promising future,” said Kurland, senior managing director and co-head of New York Capital Markets at Walker & Dunlop.
- ◦Financing
