UPDATE: Walker and Dunlop resent a press release with a correction after we published.
Walker & Dunlop, Inc. has funded a new $380 million credit facility for the refinance of 11 student housing properties on behalf of a joint venture lead by The Scion Group.
The new facility allowed the borrower to eliminate all floating-rate exposure in their original credit facility while refinancing several maturing one-off loans.
“This complex transaction, which spanned two credit facilities and over $2.3 billion of Gross Asset Value (GAV), achieved multiple strategic goals for the partnership,” said Clayton Merritt, senior vice president of capital and investments at The Scion Group.
The Scion
