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Walker & Dunlop Arranges $146M Refinance for Yorba Linda Apartment Community
Walker & Dunlop, Inc. announced it has arranged $145.75 million in first mortgage and preferred equity financing to refinance Bryant at Yorba Linda, a 400-unit multifamily community in California. The transaction was led by Chris Botsford and Jeff Burns of Walker & Dunlop Capital Markets, who secured a senior mortgage loan on behalf of Interstate Equities Corporation (IEC).
The loan, provided by Freddie Mac, features a five-year term with a fixed interest rate and full-term interest-only payments. In addition to the senior mortgage, Walker & Dunlop Capital Markets’ Justin Nelson and PJ Feichtmeier arranged preferred equity from a prominent institutional owner and operator of multifamily communities.
“By layering preferred equity on top of a Freddie Mac loan, we were able to deliver the most effective capital strategy,” said Chris Botsford, managing director at Walker & Dunlop. “This transaction reflects the ongoing strength of the five-year fixed-rate agency loan market and underscores that clients continue to prioritize five-year fixed-rate paper in the current interest rate environment, with agencies serving as a reliable and strategic source of capital.”
The refinancing supports Interstate Equities Corporation’s continued investment in high-quality multifamily assets in strong West Coast markets.
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