Walker & Dunlop Secures $113M Financing for Franklin 299

Author

Slice of Real Estate Team
November 18, 2024

Key Highlights:

  • $113M acquisition financing arranged for Franklin 299, a Class-A multifamily property.

  • Deal closed in a record 19 days, leveraging Fannie Mae as lender.

  • Property offers 304 units with premium amenities including a rooftop deck and EV charging stations.

  • Located in Redwood City, a rapidly growing Bay Area hub for tech and life sciences.

  • Walker & Dunlop originated $24B in debt financing in 2023, including $20B for multifamily properties.

Source: Business Wire

Notable Quote:

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“We were happy to work alongside Acacia to exceed their expectations and close this deal in record time.”

Jeff Burns, Managing Director, Multifamily Finance at Walker & Dunlop

Our Take:

Walker & Dunlop’s swift closing of the $113M financing deal for Franklin 299 highlights their expertise in navigating competitive markets and delivering exceptional client service. Partnering with Fannie Mae as the lender, their ability to secure favorable terms and execute within just 19 days underscores their reputation as a leader in multifamily financing. Franklin 299's strategic location in Redwood City aligns perfectly with the region's explosive growth in tech and life sciences, making it an attractive investment for Acacia Capital. This deal reinforces Walker & Dunlop's continued dominance in the commercial real estate finance sector.