Walker & Dunlop announced the closure of a $285.5 million refinancing for Vantage and The View at Montgomery in Philadelphia. The two student housing properties are located on Temple University's campus.
Walker & Dunlop’s Bethesda Multifamily Finance team and New York Capital Markets team were retained as exclusive advisers to the clients, The Goldenberg Group, originating the seven-year fixed-rate loans through Freddie Mac. The teams also engaged Walker & Dunlop Investment Partners (WDIP) to provide a preferred equity investment as part of the refinancings.
“WDIP’s deep expertise in the student housing space enabled us to step in and provide preferred equity for these prime properties, leveraging the strong collaboration within our Walker & Dunlop platform,” said Brian Cornell, managing director and head of WDIP Equity at Walker & Dunlop Investment Partners. “We are pleased to have contributed to such a highly impactful project.”
