Walker & Dunlop Arranges $556 Million Credit Facility Refinance for Student Housing Portfolio
Walker & Dunlop, Inc. announced today that it has arranged $555,600,000 in financing for a portfolio of 14 student housing properties totaling 4,295 units and 10,454 beds across nine states.
Walker & Dunlop Capital Markets Real Estate Finance arranged the financing on behalf of longtime client, The Scion Group. Colin Coleman, Brendan Coleman, and Will Baker secured a floating-rate, interest-only loan through an existing Fannie Mae credit facility.
"Our longstanding relationship with The Scion Group and Fannie Mae enabled us to deliver a financing solution tailored to the needs of a large, institutional portfolio," said Colin Coleman, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. "This transaction demonstrates the value of combining deep market expertise with a collaborative approach to help our clients achieve their long-term investment objectives."
The portfolio includes student housing communities in Arizona, Alabama, California, Colorado, Florida, Georgia, Louisiana, North Carolina and Texas. The financing supports The Scion Group's long-term ownership strategy while providing flexible capital across a geographically expansive portfolio.
