The Esplanade at National Harbor. Photo by Peterson Cos.

NATIONAL HARBOR, MD–The Peterson Cos. secured a $54 million Fannie Mae loan from its Green MBS program, to refinance an apartment complex at its master-planned National Harbor community anchored by the Gaylord National Resort.

Walker & Dunlop arranged the financing for the developer, which was the first time the financial provider tapped the GSE's green program, according to Dan Martin, who along with Brendan Coleman arranged the financing. The transaction was also the first time Peterson Cos. borrowed from Fannie Mae, he added.

The loan refinances The Esplanade at National Harbor, a 262-unit building.

The 10-year loan term includes five years interest-only followed by a 30-year amortization schedule. Because the loan was out of the green program, it qualified for lower pricing. Fannie Mae's green program “for LEED certified assets provided the sponsor with a significant pricing advantage relative to other similarly leveraged assets,” Martin said in a prepared statement.

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The loan refinances The Esplanade at National Harbor, a 262-unit building.

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Peterson Cos. Refinances National Harbor Apartment with $54M Fannie Mae Green Loan

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