Walker & Dunlop recently announced a record-smashing $2.4 billion deal that will allow Southern Management Corp. to invest Fannie Mae Credit Facility funds to refinance 67 multifamily properties located in the Washington, D.C., and Baltimore metropolitan areas.
The deal, which encompasses 22,439 units, was structured by Walker & Dunlop multifamily finance senior managing director Brendan Coleman and team members Chris Forte, Connor Locke, Colin Coleman, Adam Johnston, and Skye Stansbury. Over 60% of the units qualify as mission-driven, affordable housing under Federal Housing Finance Agency guidelines. The deal was wrapped up under duress from the pandemic.
“Our team, along with our partners at Fannie Mae, did an exceptional job executing this enormous transaction under exceedingly challenging circumstances given the current environment,” said Willy Walker, Walker & Dunlop chairman and CEO. “I am deeply appreciative of the trust and confidence Southern Management placed in Walker & Dunlop.”
The deal is the largest in the company’s history. "Walker & Dunlop's creativity, tenacity, and market knowledge resulted in a superior execution for this large and complex transaction amidst the uncertainty of a rapidly unfolding financial and health crisis," said Suzanne Hillman, president and CEO of Southern Management Corp. “I am so glad that Southern chose to work with Brendan Coleman and his team at W&D. The effort, skill, expertise, and responsiveness of all parties involved was unprecedented.”
