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Walker & Dunlop secures $142M FHA financing for two Virginia apartments
The loans include a $62.0 million construction facility for 268 units in Chesapeake and a $79.9 million construction facility for 344 units in Chesterfield County.
Walker & Dunlop has arranged nearly $142 million in financing for the construction of two multifamily communities in Virginia, supporting the development of 612 market-rate apartments across Chesapeake and Chesterfield County.
According to ConnectCRE, the transactions were arranged on behalf of Bonaventure through the U.S. Department of Housing and Urban Development HUD Section 221(d)(4) loan program.
The financing includes a $62 million construction loan for Attain at Greenbrier, a 268-unit community in Chesapeake, and a $79.9 million construction loan for Attain at Swift Creek, a 344-unit community in Chesterfield County.
ConnectCRE also reported that Chris Rumul, Jason Silva, Cole Parker, and Mike Valucci arranged the financing, and that Rumul attributed the deals to Walker & Dunlop's long-standing relationship with Bonaventure and their shared focus on multifamily housing in growing Virginia markets.