Walker & Dunlop recently provided more than $30 million in Fannie Mae financing for a portfolio of Class-A multi-family buildings in Wisconsin.
The portfolio consists of five garden-style properties and 543 units located in Appleton, Weston, Little Chute, Ashwaubenon and Green Bay, all in Wisconsin.
All of the refinance transactions were structured with 10-year terms and 30-year amortization periods. Walker & Dunlop received an underwriting interest rate floor waiver from Fannie Mae to underwrite the loans with a 1.15x debt-service coverage ratio as a way to maximize proceeds for the borrower.
Walker & Dunlop closed the entire portfolio 41 days after receiving the signed application from the borrower.
