Walker & Dunlop, Inc. recently completed a $285 million refinancing for Vantage and The View at Montgomery, two student housing properties located on Temple University’s campus in Philadelphia. This financing marks one of the largest deals in the student housing sector this year.
The firm’s Bethesda Multifamily Finance team and New York Capital Markets team advised The Goldenberg Group on securing seven-year fixed rate loans through Freddie Mac. In addition to these loans, Walker & Dunlop Investment Partners (WDIP) provided a preferred equity investment as part of the refinancing process.
Led by Connor Locke, Colin Coleman, Brendan Coleman, Chris Forte, Adam Johnston and Skye Stansbury from the Bethesda Multifamily Finance team; Adam Schwartz Sean Reimer Aaron Appel Jonathan Schwartz Keith Kurland Michael Ianno William Herring from the New York Capital Markets team; and Brian Cornell Marcus Duley Duncan McHale Brent George from WDIP; this deal showcases Walker & Dunlop’s expertise in navigating challenging market conditions such as those caused by financial crises or pandemics.
According to Locke: “Despite facing headwinds due to macroeconomic factors like COVID-19 and enrollment pressures across the country…the student housing sector has consistently proven its resilience.” He also praised The Goldenberg Group for their attention to detail which has resulted in high demand among Temple students leading to rent growth that outpaces traditional multifamily assets.
This successful refinancing demonstrates Walker & Dunlop’s commitment towards providing top-notch services for clients seeking financing solutions within various sectors including but not limited to student housing.
