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8/17/17
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Walker & Dunlop Inc recently closed a portfolio of four refinance loans totaling roughly $550 mil on behalf of Douglas Emmett Inc. The interest-only loans are backed by four Class A apartment properties located in Los Angeles and Santa Monica.
Approximately 90% of the total loan amount, or close to half a billion dollars, qualified for Fannie Mae’s Delegated Underwriting and Servicing (DUS®) Green Rewards program, making it the largest transaction to date closed using Fannie Mae’s Green Rewards. Walker & Dunlop Managing Director, Allan Edelson, led the team that structured and closed the loans in the second quarter of 2017 with an all-in rate of under 3.2 percent.
“The loans took advantage of Fannie Mae’s DUS Green Rewards program, which involved environmental upgrades to three of the four properties in this financing,” commented Edelson. “These improvements allowed the borrower to secure extremely competitive loan terms while ensuring more sustainable operations and cost savings for years to come.”
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