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8/10/15
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Walker & Dunlop Inc closed a $20.8 mil refi loan for The Preserve at Rock Springs, a 184-unit apartment complex in Rock Springs, WY. The loan was structured using the U.S. Housing and Urban Development’s (HUD) Section 223 (a) (7) program.
Built in 2010, The Preserve at Rock Springs is a market-rate apartment community consisting of 11 residential buildings, featuring one-, two-, and three-bedroom apartments on 10.5 acres in the heart of Sweetwater County. The apartment complex features a spacious clubhouse, fitness center, children’s playground, business center, a resort style pool, and access to local hiking trails.
The new, 40-year loan enabled the borrower to secure long-term financing at a very low, fixed interest rate.
Walker & Dunlop Senior Vice President, FHA Production, Ralph Lowen handled the transaction.
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