Walker & Dunlop, Inc. has successfully secured $109 million in financing for the construction of a Class-A multifamily development located at 1034-1042 Atlantic Avenue in Brooklyn. This project will consist of two adjoining parcels and feature 247 units.
The expert team at Walker & Dunlop Capital Markets, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring acted as exclusive advisors to EMP Capital Group. After careful consideration and analysis of various lenders, QuadReal Property Group was chosen to provide a five-year interest-only construction loan that will cover both existing debt and ongoing development costs.
According to Elie Pariente from EMP Capital Group,”1034-1042 Atlantic Avenue’s two towers have been meticulously designed with optimal floorplans that offer a diverse mix of fair market and affordable residential units along with desirable amenities.” The loan arranged by Walker & Dunlop is expected to facilitate the successful completion of this highly anticipated project without any mention or reference to specific locations or platforms such as Connect CRE or Connect LA/Texas.
