Bethesda, Md. — Walker & Dunlop Inc. provided $695 million in 2014 in financing for off-campus student housing properties throughout the United States. This is an increase of 160 percent from 2013.
Will Baker, senior vice president and managing director, partnered with Tim Bradley of TSB Capital Advisors, originated and structured $66.4 million as a 10-year loan with two years of interest only and 30-year amortization for Cottages of College Station in College Station, Texas. Cottages of College Station is a 1,354-bed cottage/garden style community consisting of 192 one, two and three-story apartment buildings.
James Cope, senior vice president and managing director, led the Walker & Dunlop team that providing $19 million to The Waterfront Apartments in Madison, Wisconsin. The loan was structured as a 10-year loan secured by a first lien.
The Waterfront Apartments are located less than a mile from the University of Wisconsin-Madison and is a 71-unit, mid-rise, Class A apartment complex situated on 0.62 acres of land. The property was 100 percent leased prior to the completion of the transaction.