**Walker & Dunlop Secures $121.5M in Financing for Oceanfront Luxury Apartments in Long Branch, NJ**
Walker & Dunlop, Inc. has successfully arranged $121.5 million in combined equity and debt financing for the acquisition of Ocean Gate, a luxury Class-A apartment community located on Ocean Avenue in Long Branch, New Jersey. The recently constructed property features 170 high-end multifamily units with views of the Atlantic Ocean.
A team from Walker & Dunlop Capital Markets — including Aaron Appel, Jonathan Schwartz, Keith Kurland, Mo Beler, Adam Schwartz, Ari Hirt, Jackson Irwin, and Stanley Cayre — advised Lincoln Equities Group on the deal. The arrangement included $46.5 million in joint venture equity raised from RWN Real Estate Partners and Avenue Realty Capital, coupled with $75 million in debt financing provided by TPG Real Estate Credit.
“We are pleased to partner with Walker & Dunlop, Avenue Realty Capital, and TPG Real Estate Credit on this strategic acquisition, which positions us to unlock significant value in a unique New Jersey asset,” said Ari Shalam, Managing Partner at RWN Real Estate Partners.
Ocean Gate was originally developed as a purpose-built condominium complex but is currently operating as a rental community. With the acquisition now complete, Lincoln Equities Group plans to begin marketing the units for individual sale.
