Walker & Dunlop Closes $168 Million Refinance for Santa Clarita Community
BETHESDA, Md.–(BUSINESS WIRE)–Walker & Dunlop, Inc. announced today that it has arranged a $168 million loan to refinance Park Sierra, a 776-unit, Class B, garden-style apartment building in Santa Clarita, California.
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Park Sierra (Photo Credits: G.H. Palmer Associates)
The financing was arranged by Walker & Dunlop’s California Multifamily Finance team, led by Trevor Fase, on behalf of G.H. Palmer Associates. Fannie Mae provided the financing package.
“We are thrilled to continue our long-standing partnership with G.H. Palmer, a valued repeat client,” said Trevor Fase, senior managing director of Multifamily Finance at Walker & Dunlop. “G.H. Palmer has consistently demonstrated a strong commitment to developing and preserving affordable housing in Santa Clarita. With 97% of the units at Park Sierra qualifying as ‘Mission-Driven,’ this community plays an essential role in providing quality, affordable housing in the market, and we’re proud to help support that mission.”
Originally developed in 1987 by G.H. Palmer Associates, the property consists of 97 one-bedroom and 679 two-bedroom apartments. Approximately 40% of the units have been rehabilitated, with significant additional capital investment planned as the team continues to execute on its vision of providing quality workforce housing in Santa Clarita. Community amenities include five pools and spas, a fitness center, picnic and play areas, and more.
“Walker & Dunlop consistently demonstrates the highest level of professionalism in all of their transactions,” said Chuck Merrell, chief financial officer at G.H. Palmer Associates. “They are always willing to go above and beyond expectations, ensuring that they deliver the best possible results. Their commitment to excellence and attention to detail make them a trusted and invaluable partner for us.”
Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. To learn more about our capabilities and financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
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Investors:
Kelsey Duffey
Investor Relations
Phone 301.202.3207
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VP, Public Relations
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Bethesda, Maryland 20814
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| Park Sierra (Photo Credits: G.H. Palmer Associates) |
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