LAKELAND, FL—Bethesda, MD-based Walked & DunlopInc. reports that it originated a $108-millionFannie Mae MHC loan for the BlairGroup for its manufactured housing community here.


Walker & Dunlop's team, led by senior vice president andmanaging director, Brendan Coleman, partnered withKeystone Commercial Capital's RyanNelson and Charlie Williams to originatethe 10-year, fixed-rate loan with four years of interest-only.


The loan is somewhat unique in that it carries a seven-yearyield maintenance period, providing the borrower with significantlygreater prepayment flexibility, Walker & Dunlop states.


"Due to Fannie Mae's innovative loan structure, we were able totailor this cash-out loan with a fantastic long-term interest rateand maximum pre-payment flexibility to the borrower,” Walker &Dunlop's Coleman says. “It was quite a feat to rate lock the dealin such a short period of time, but we were determined to takeadvantage of these historically low interest rates. Walker &Dunlop is proud to have now provided financing for Blair Group'sentire MHC portfolio, a true testament to the depth of ourcollective experience in the manufactured housing sector."


Jeffery Hayward, senior vice president and headof the multifamily mortgage business, Fannie Mae, says, "We arethrilled to have partnered with Walker & Dunlop on the CypressLakes MHC transaction. Fannie Mae has been providing liquidity tothe manufactured housing market for more than a decade and we areexcited to have provided over $8 billion in volume since theinception of our program. Financing manufactured housingcommunities is not only good business, it also provides affordableownership and rental options for many families, particularly forseniors, throughout the country."

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.