DENVER—Throughout 2014, Walker & Dunlop Inc. provided more than $500 million in financing for several multifamily properties in Colorado.
With current real estate market trends, financing options and increased population growth, Colorado has become a premier destination for employment, residency and recreational activities, Walker & Dunlop says. With the region's current unemployment rate at 5.3%, the necessity for rental properties has increased, resulting in above average occupancy rates. Investors have expressed additional interest in attractive loan options for value added sales and recently Colorado has seen a surge in out of state investors.
Andrew Gnazzo, managing director, originated a 10-year Fannie Mae loan for Windsor at Broadway Station in Denver. Walker & Dunlop's expedited processes allowed the borrower to achieve rate lock and closing on a tight timeframe for 1031 exchange purposes.
Ellen Kantrowitz, senior vice president, led the Walker & Dunlop team, arranging a $59 million HUD loan for 300 East 17th Ave. Apartments also inDenver.
Trevor Fase, senior vice president, originated a supplemental loan for the Preserve at City Center in Aurora, CO. Walker & Dunlop generated the first loan on the property, a 10 year fixed rate loan in 2013, and this year the borrower was able to obtain a $6.35 million supplemental loan for value add amenities.
Headquartered in Bethesda, MD, Walker & Dunlop is one of the leading commercial real estate finance companies in the US.
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