Walker & Dunlop announced that it has arranged a $101.6 million loan to refinance Enclave Heritage Flats, a 312-unit multifamily community in Chula Vista, Calif.
Walker & Dunlop Capital Markets Real Estate Finance and Walker & Dunlop Affordable Housing arranged the financing on behalf of the client, The Baldwin Co. The loan was secured through the U.S. Department of Housing and Urban Development’s HUD Section 223(f) program and refinances existing debt Walker & Dunlop arranged in 2024.
“Enclave Heritage Flats is an excellent example of how the HUD Section 223(f) program has become an increasingly efficient and attractive execution for high-quality multifamily assets,” said Gregory Richardson, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. “The ability for borrowers to secure long-term, fixed-rate financing with attractive leverage and increased certainty of execution is incredibly valuable, particularly for well
