Daniel Hathaway Of Hathaway Secures $153.3M Refinance Loan For Multifamily Communities Across Southeast

The asset involved in this transaction includes three newly built garden-style multifamily communities totaling 876 units located at 3450 Blair Stone Road, 10293 Cassle Road, and 100 Plyler Road, across Tallahassee, Florida; Denham Springs, Louisiana; and Indian Trail, North Carolina. The total loan amount arranged for this refinance is $153,300,000 with a floating rate attached, aimed at retiring construction debt and preferred equity while optimizing proceeds for asset performance.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $153,300,000
• Units: 876
• Lender: ACRES Capital
• Landlord: Daniel Hathaway - Hathaway
• Brokers: Hanes Dunn, Robert Henry & Stephen Farnsworth - Walker & Dunlop
• Loan Type: Refinance
• Loan Terms: Floating rate
• Markets: Tallahassee, Florida; Denham Springs, Louisiana; Indian Trail, North Carolina

Walker & Dunlop arranged the financing under the direction of Daniel Hathaway, facilitating the refinancing process and contributing to Hathaway Development's strategy for growth in the Southeast region. Involved brokers in this deal include Hanes Dunn, Robert Henry, and Stephen Farnsworth, all part of Walker & Dunlop.