Walker & Dunlop successfully arranged a $66 million refinancing deal for Boardwalk at Millenia, a premier 309-unit apartment community in Chula Vista. The transaction was led by the W&D New York Capital Markets team, including Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Mo Beler Michael Ianno and William Herring. They worked on behalf of Barings Core Property Fund to secure financing from Kohlberg Kravis Roberts & Co., LP.
Boardwalk at Millenia is an upscale Class A apartment complex located at 1660 Metro Ave., built in 2018. It boasts top-of-the-line amenities such as a resort-style pool and spa area with outdoor fireplaces and lounges; state-of-the-art fitness studio; children’s play area; and co-working spaces complete with private conference rooms.
In 2019, Barings acquired the property from Trammell Crow Residential and has now secured new financing through a five-year floating rate loan to replace the previous debt. This successful refinance demonstrates Walker & Dunlop’s expertise in arranging complex deals for their clients’ benefit.
