Walker & Dunlop, Inc. recently helped secure a $110 million refinancing for an 18-property multifamily portfolio in New York City. The portfolio, which was acquired in 2021 by a joint venture between Davean Holdings and Meadow Partners, consists of 112 multifamily units and 29 commercial units located across popular neighborhoods such as the East Village and Park Slope.
Sean Lefkovits of Davean Holdings expressed satisfaction with the successful execution of their business plan and their ability to add value for investors.
The Walker & Dunlop New York Capital Markets team played a key role in this transaction, with Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz Sean Reimer Sean Bastian Christopher de Raet ,and Stanley Cayre representing Davean Holdings and Meadow Partners while also identifying Hudson Bay Capital as the lender.
Adam Schwartz commented on the strong demand from renters to live in these desirable locations within New York City. He expects vacancy rates for this portfolio to remain significantly below average over time.
