Walker & Dunlop, Inc. provided a loan in the amount of $18,375,000 for the refinance of Jasmine at the Galleria Apartments, a 270-unit apartment complex in Smyrna, Georgia.
Walker & Dunlop provided a fixed rate, cash-out loan that refinanced the Freddie Mac adjustable rate mortgage that was placed on the property sixteen months ago.
The borrower, Lyon Communities, took advantage of historically low interest rates by locking in the treasury early in the process using Freddie Mac’s index-lock program. The loan was structured with a 10-year term, and 5 years of interest-only payments.
Bryan Frazier, managing director, led the Walker & Dunlop team.