Walker & Dunlop Sources $110 Million for Refinance of NYC Multifamily Portfolio

By: Walker & Dunlop, Inc. via Business Wire

November 05, 2024 at 12:09 PM EST

Walker & Dunlop, Inc. announced today that it facilitated a $110 million refinancing for an 18-property multifamily portfolio in New York City. Originally acquired in 2021 by a joint venture between Davean Holdings and Meadow Partners, the portfolio currently consists of 112 multifamily units and 29 commercial units located in some of the most desirable neighborhoods in the city including the East Village and Park Slope.

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Six buildings in the portfolio (Photo: Business Wire)

"We’re pleased that we are able to continue executing on our business plan and adding value for our investors," said Sean Lefkovits of Davean Holdings.

The Walker & Dunlop New York Capital Markets team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre, represented Sean Lefkovits and David Lloyd of Davean Holdings and Meadow Partners in the transaction and ultimately identified Hudson Bay Capital as the lender.

"Given the consistent demand from New York City renters to live in these preferred locations, we anticipate portfolio vacancy to remain significantly below the city’s average over the long term," said Adam Schwartz, senior managing director and co-head of New York Capital Markets at Walker & Dunlop. "We are excited to collaborate once again with the Davean and Meadow teams and look forward to watching them successfully execute on their business plan."

In 2023, Walker & Dunlop’s Capital Markets group sourced capital for transactions totaling nearly $12 billion from non-Agency capital providers. This vast experience has made them a top adviser on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s broad financing options, visit our website.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States. Our ideas and capital create communities where people live, work, shop, and play. The diversity of our people, breadth of our brand and technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.