LOWELL, MI – Walker & Dunlop announced that it has structured a $ 12,195,000 financing for Townhomes at Two Rivers, an environmentally friendly apartment building in Lowell, Michigan, a city in the greater Grand Rapids area.
Walker & Dunlop Senior Director Benjamin Krosin refinanced the property on behalf of Forest Hills Homes and Rohde Construction as general contractor. The transaction was initiated in partnership with Kari Zapolski, President of Inner Circle Holdings, a preferred correspondent for Walker & Dunlop. The team used their extensive knowledge of GSE loans to secure an early rate fixation on the ten-year Fannie Mae loan.
"As a launch customer, Walker & Dunlop exceeded our expectations in refinancing townhomes in Two Rivers," said Matt McCollum, owner of Forest Hills Homes, LLC and developer of townhomes in Two Rivers. "The involvement of Rohde Construction from the beginning was also the key to the success of the project, as the company's decades of experience have enabled a new and improved concept design and equipment package for the property."
"Our team prides itself on finding effective solutions that help provide environmentally conscious living in the Grand Rapids, Michigan area," commented Senior Director Benjamin Krosin. "Walker & Dunlop worked closely with our clients to get the property certified as a green building under the Green Globes certification program of the Green Building Initiative, which ultimately resulted in lower interest rates for our clients."
Townhomes at Two Rivers comprises 80 apartment buildings and offers amenities such as a 24-hour fitness center, an enclosed dog park, a covered picnic area and access to hiking and biking trails. The property's location provides proximity to Michigan's Flat River and downtown Grand Rapids. The Grand River Riverfront Park pedestrian and bicycle bridge is within walking distance.
Source: Walker & Dunlop
