LEBANON, PA – Walker & Dunlop, Inc. announced that it has structured $ 20,400,000 financing for Fox Ridge Apartments, a 170-unit apartment building in Lebanon, Pennsylvania. The team arranged the refinancing on behalf of regular Boyd / Wilson, who has funded over $ 75 million through Walker & Dunlop in the past six months.
Walker & Dunlop's Philadelphia Capital Markets team, which included managing directors John Banas and Kris Wood, and analysts John Wilson, Rhett Saltiel and Erik DiGirolamo, arranged the ongoing funding through Fannie Mae. The team structured the deal with six year interest payments and an attractive fixed interest rate for the ten year loan term.
Mr. Banas commented, "With nearly 40 years of experience in commercial property development, real estate and construction management, Boyd / Wilson is an extremely strong family business with an excellent understanding of the Pennsylvania market. We are pleased to have completed another contract with your team. "
Located in the quaint community of southern Lebanon, Fox Ridge Apartments are aimed at young professionals and families. The property is minutes from parks, restaurants, and outdoor shopping, as well as coveted schools like Cedar Crest High School, Cedar Crest Middle School, and South Lebanon Elementary. The parish also gives residents easy access to several neighboring towns, including Harrisburg, Lancaster and Reading, which are approximately 30 miles away, and York, which is 40 miles away. Fox Ridge has a distinctive artisan architecture with modern amenities such as a clubhouse, fitness room, pet stations and lots of green space. Each unit has decks or patios as well as high quality furnishings.
Source: Walker & Dunlop