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Widewaters Group Inc. Secures $50.5 Million Freddie Mac Refinance For 350-unit Knightdale Apartments

Property Image
FINANCED
$50,500,000
Sean Reimer
Jackson Irwin
Keith Kurland
+ 3

North Carolina

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MultiFamily
Financed 02/24/2026
the dealplayerscompscontact
Property Image
FINANCED

Widewaters Group Inc. Secures $50.5 Million Freddie Mac Refinance For 350-unit Knightdale Apartments

1001 Park Commons Drive

See Similar Deals
MultiFamily
Financed 02/24/2026
Sean Reimer
Jackson Irwin
Keith Kurland
+ 3
the dealplayerscompscontact
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multi-family apartment complex located at 1001 Park Commons Drive, Knightdale, NC. This property consists of 350 units and was completed in 2019. It currently has an occupancy rate of 91%, with average rents set at $1,503.

Summary of transaction details:

The refinance loan, amounting to $50.5 million, was secured to support the financial needs associated with the Parkstone at Knightdale apartment complex. The transaction was facilitated by several brokers from Walker & Dunlop, showcasing a collaborative effort in the brokerage aspect of the deal.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
194 deals$32.5B volume
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
168 deals$27.2B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
173 deals$29.4B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
166 deals$25.7B volume(646) 491-8869
BROKER
Jackson Irwin
Walker & Dunlop
Jackson Irwin
9 deals$795.9M volume(858) 442-8456
BROKER
Sean Reimer
Walker & Dunlop
Sean Reimer
48 deals$9.6B volume(646) 221-6437
BROKER
Freddie Mac
Freddie Mac
LENDER

Details

FINANCED
IMAGE: 02/24/2026 ADDRESS: 1001 Park Commons Drive MARKET: Knightdale, NC ASSET TYPE: MultiFamily ~ UNITS: 350 LENDER: Freddie Mac LANDLORD: The Widewaters Group Inc. BROKERS: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer & Jackson Irwin - Walker & Dunlop LOAN AMOUNT: $50,500,000 LOAN TYPE: Refinance NOTE: Widewaters got a $50.5 million Freddie Mac loan to refinance Parkstone at Knightdale, a 350-unit apartment complex in Raleigh. The property, finished in 2019, is 91% full with average rents of $1,503. .

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,500,000.00

Monthly NOI$336,666.67
Monthly Debt Service$319,194.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00