BETHESDA, Md., Jan. 15, 2019 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it arranged construction
financing for Traditions at Rivertown, a senior housing
complex in Wyoming, Michigan. Walker & Dunlop worked with
preferred correspondent firm Inner Circle Holdings to provide the
$24,800,000 loan to Redstone
Group Management, Inc.
Walker & Dunlop Vice Presidents Benjamin Krosin, Jeff
Schmidt, Tim Cotter, and
Russell Dey partnered with
Kari Zapolski of Inner Circle
Holdings in Rockford, Michigan to
structure the five-year construction loan with three years of
interest only. The team leveraged its broad network of lender
relationships to secure the best possible transaction terms with a
regional bank.
Mr. Krosin commented, "We pulled together a team of loan
brokerage and senior housing experts to collaborate on this
transaction, a true testament to the breadth of Walker &
Dunlop's financing expertise. It was an honor for our team to
support Redstone Group's growing multifamily presence in
Grand Rapids and the surrounding
region."
"We are excited to build a high-end senior housing property that
will address a significant need in the Grand Rapids market area," stated Gary Hensch, President of Redstone Group. "The
Walker & Dunlop team and Inner Circle Holdings facilitated a
smooth construction financing process that will allow us to
successfully execute on our business strategy."
Located within a suburb of Grand
Rapids, Michigan, Traditions at Rivertown is a 150-unit,
class A property with dedicated units for independent living,
assisted living, and memory care. The property is scheduled to be
completed in November 2019 and will
feature amenities such as a library, bar and entertainment space,
theater, fitness center, underground parking, coffee bar/bistro,
lounge, and activity areas.
To learn more about Walker & Dunlop's diverse array of
financing options, visit our website.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest
commercial real estate finance companies in the United States. The company provides a
comprehensive range of capital solutions for all commercial real
estate asset classes, as well as investment sales brokerage
services to owners of multifamily properties. Walker &
Dunlop is included on the S&P SmallCap 600 Index and was ranked
as one of FORTUNE Magazine's Fastest Growing Companies in
2014, 2017, and 2018. Walker & Dunlop's 700+ professionals
in 29 offices across the nation have an unyielding commitment to
client satisfaction.
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SOURCE Walker & Dunlop, Inc.