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Walker & Dunlop arranges $100m plus construction loan for multifamily project in Brooklyn
Transactions - MAY 21, 2024

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Walker & Dunlop arranges $100m plus construction loan for multifamily project in Brooklyn

by RELEASED

Walker & Dunlop announced that it arranged a $110 million loan to facilitate the construction of 880 Atlantic Avenue, a 246-unit class A multifamily development in Prospect Heights, Brooklyn, N.Y.

The Walker & Dunlop New York Capital Markets team acted as exclusive advisors to EMP Capital Group. The team identified QuadReal Property Group as the lender to secure the construction loan. Loan proceeds will be used to fund ongoing development costs.

The client, EMP Capital Group, has deep involvement in the neighborhood and is also developing 1034–1042 Atlantic Avenue, a 247-unit project that Walker & Dunlop financed in March 2024 for $109 million.

880 Atlantic Avenue has convenient access to transportation and proximity to both Prospect Park and Fulton Mall and will offer a mix of studio, one-bedroom and two-bedroom apartments.

Located in Prospect Heights, 880 Atlantic is perfect for professionals, families and urbanites who seek everything fro

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