Viking Companies, represented by Svein Dyrkolbotn, has secured a construction loan of $58.8 million for the development of Celebration Pointe Apartments in Gainesville, Florida. The multifamily property consists of 239 units and is located at 4802 Southwest 34th Place. The loan, provided by a life insurance company, is non-recourse and includes mezzanine financing. This transaction highlights the growing involvement of life insurance companies in the construction lending market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $58,800,000
• Units: 239
• Address: 4802 Southwest 34th Place
• Market: Gainesville

The deal was facilitated by the brokers Jeremy Pino, Livingston Hessam, Carl Passmore, and Kyle Miller of Walker & Dunlop. Their expertise and negotiation skills played a crucial role in securing the construction financing for this project. Walker & Dunlop continues to demonstrate their strong presence in the market as a reliable and successful brokerage firm.