**Walker & Dunlop Arranges $121.5M Financing for Ocean Gate Apartments in Long Branch, NJ**
Walker & Dunlop, Inc. has successfully arranged $121.5 million in equity and debt financing for the acquisition of Ocean Gate, a newly constructed luxury Class-A apartment community in Long Branch, New Jersey. The property, located along Ocean Avenue, consists of 170 multifamily units and offers oceanfront living in a sought-after coastal setting.
The financing package includes $46.5 million in joint venture equity provided by RWN Real Estate Partners and Avenue Realty Capital. Additionally, $75 million in debt financing was secured through TPG Real Estate Credit. The transaction was led by Walker & Dunlop’s Capital Markets team, including Aaron Appel, Jonathan Schwartz, Keith Kurland, Mo Beler, Adam Schwartz, Ari Hirt, Jackson Irwin, and Stanley Cayre, who advised Lincoln Equities Group throughout the process.
“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 condominium community and is currently operating as a rental property. Lincoln Equities Group plans to market the individual units for sale in the near future, potentially capitalizing on strong demand for oceanfront residential ownership in the region.
