Walker & Dunlop Inc. has originated $1.719 billion in loan proceeds to refinance 12,955 predominantly workforce and affordable housing units in 52 assets across 10 states for Starwood Capital.
“This significant portfolio financing reflects Walker & Dunlop’s ability to structure and execute large-scale financing solutions for the world’s largest and most sophisticated institutional clients,” said Walker & Dunlop Chairman and CEO Willy Walker. “Financings of this size and complexity require a coordinated and collaborative team of bankers and underwriters. Led by Senior Managing Director Dustin Stolly, the Walker & Dunlop team, working with Freddie Mac, executed flawlessly.”
Walker & Dunlop Capital Markets Institutional Advisory arranged the transaction on behalf of Starwood Capital’s Starwood Real Estate Income Trust (SREIT), which acquired the properties in 2021. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Stepniewski and Michael Ianno originated the 10-year Freddie Mac loans.
“Starwood is proud to own and support workforce housing communities,” said Jonathan Pollack, president of Starwood Capital. “With a large majority of units in high-growth, high-migration markets, we believe the fundamentals are strong for the long term for our lenders and investors.”
