Walker & Dunlop Arrange $49.5M Fannie Mae Loan For Palmilla Apartments

The Palmilla Apartments, a multifamily property with 240 units located at 51 South Coyle Street in Pensacola, Florida, underwent a refinancing transaction. Kore LLC, the landlord of the property, sought a loan to stabilize the asset and pay off construction debt. The $49.5 million Fannie Mae loan was arranged by Walker & Dunlop, with Doug McDaniel and Will Baker as the brokers securing the loan. Kore LLC utilized Fannie Mae's green platform to achieve better pricing for the loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,500,000
• Units: 240
• Address: 51 South Coyle Street
• Market: Pensacola
• Loan Type: Refinance
• Loan Terms: Five-year, fixed-rate loan
• BROKERS: Doug McDaniel & Will Baker - Walker & Dunlop

Doug McDaniel and Will Baker, from Walker & Dunlop, played a crucial role in arranging the refinancing loan for the Palmilla Apartments on behalf of Kore LLC. The partnership between the brokers and the landlord facilitated the successful refinancing of the property, enabling Kore to benefit from favorable loan terms and better pricing through Fannie Mae's green platform.